New Delhi, May 8 -- The domestic rating agency CRISIL has placed the long-term debt instruments of private sector lender IndusInd Bank on 'Rating Watch with Negative Implications'. This category of long-term instruments consists of Rs.4,000 crore worth of Tier II bonds and Rs.1,500 crore in infrastructure bonds.

The decision by the rating agency comes in light of the recent resignations of the bank's two top key management personnel, along with the announcement that the internal audit department is reviewing the microfinance (MFI) sector to investigate specific concerns raised during the finalization of accounts. Furthermore, the bank had reported an accounting discrepancy related to derivatives back in March.

CRISIL has observed that t...