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of <h1>Bank Leadership Resigns After Major Accounting Irregularities in Derivatives Portfolio Exposing Significant Financial Misreporting</h1> A leading bank's top executives resigned following significant accounting lapses in its derivatives portfolio. An external audit revealed incorrect accounting practices, particularly in internal derivative trades, resulting in a financial impact of approximately Rs 1,960 crore. The bank's CEO, Deputy CEO, and CFO have stepped down, with the board seeking regulatory approval to establish an interim leadership committee while investigating the discrepancies.
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