CLSA noted that when the RBI gave a one-year extension to the MD of RBL Bank, and later appointed a PSU banker, the stock crashed 60 per cent, as the Street feared there would be skeletons in the closet.

IndusInd Bank shares have declined by over 38% over the past six consecutive sessions, with the most significant single-day drop of 27% occurring on Tuesday.

Experts said that ​internal review discrepancies will damage the credibility of the bank, act as a sledgehammer on the stock.