Probe confirms incorrect accounting in internal derivative trades, IndusInd Bank says

An external agency appointed by IndusInd Bank to assess the root cause of discrepancies found in the lender’s derivatives portfolio has confirmed that the bank engaged in incorrect accounting of internal derivative trades, especially in case of early termination, which resulted in recording of notional profits, the bank said. “The Report identifies incorrect accounting of…

‘Believe yourself’: how kids from a Madurai hamlet have taken over Instagram

In the last two months, the Panchayat Union Middle school, Therkamoor in Madurai district, has been trending on social media showcasing its students’ talents through reels. Photo: Special Arrangement If ‘Believe in yourself, Sivadarshini’ has not taken over your Instagram algorithm, and is not part of your morning affirmations, are you even Instagramming right? In…

Govt. brings cybercrime centre I4C under PMLA

Image used for representative purpose. File | Photo Credit: Getty Images/iStockphoto The government has authorised Indian Cyber Crime Coordination Centre (I4C) to share and receive information from the Enforcement Directorate under the anti-money laundering law, a move aimed at detecting money trail and combating cyber frauds. In a notification dated April 25, the Revenue Department…

Dalai Lama may decide on a spiritual successor 90th birthday events in July: Central Tibetan Administration leader Penpa Tsering

Preparations are in full swing for the celebration of the Dalai Lama’s birthday in July, Penpa Tsering, the Sikyong (elected leader) of the Central Tibetan Administration (CTA), told The Hindu. All eyes are on a possible announcement by the Dalai Lama on his reincarnation or successor. In a statement in September 2011, Tenzin Gyatso, the…