Deposit mobilisation, which has been a challenge for the banking sector, is likely to take a hit. IndusInd Bank reported discrepancies in accounting related to forex derivatives that could lead to a one-time hit to earnings. The BSE Private Bank Index was down 1.32 percent in the morning trade on March 11, dragged by Indusind Bank, which was down 22 percent. The bank said an internal review of its derivative portfolio uncovered a potential 2.35 percent hit to its net worth, which stood at approximately Rs 62,000 crore as of March 31, 2024. A final report from an external agency is awaited, based on which it would evaluate the impact on its financials, the bank said. For banks, January-March is typically a busy period for deposit mobilisation. Barring the period between September and November 2024, banks struggled with deposits. The credit-deposit ratio remains upwards of 80 percent for private banks, with the number touching 100 percent for HDFC Bank in the third quarter. This hasn’t gone down well with the regulator and the central bank has been periodically cautioning banks about deposit mobilisations.