New Delhi, March 11 -- IndusInd Bank share price crash: A rout in shares of private sector lender burnt a hole in India's biggest life insurer and domestic institutional investor Life Insurance Corporation's (LIC) portfolio, resulting a loss of nearly Rs.1,000 crore for the insurer.

IndusInd Bank's share price crashed 27% on Tuesday, March 11, to its lowest level since November 2020, after the lender flagged accounting discrepancies in its derivatives portfolio, which is likely to have a one-time impact on its earnings.

During an internal review of processes related to other asset and other liability accounts in its derivative portfolio, following the implementation of RBI's new regulations effective from 1st April 2024, the bank identi...