“The move to allow promoters to hold 26% of the paid-up voting equity share capital of the bank seems to be a way of turning the exception allowed to Kotak Mahindra Bank into a policy decision, uniform to all banks,” said independent banking analyst Hemindra Hazari. “In my view, this would undermine the credibility of RBI as it has allowed independent private banks to arm-twist the regulatory body."
Will IndusInd’s Much-Needed Reorganisation of Corporate Lending Trigger Another Round of Whistleblowing?
EXECUTIVE SUMMARY. Indusind Bank shareholders are paying a heavy price for senior executive-level reorganisation in Bharat Financial Inclusion (BFI), which backfired as...
By Quentin Webb and Shefali Anand Updated Nov. 22, 2021 7:27 am ET
The bank’s official explanation of a technical glitch needs to be examined, by the RBI, which should commission a probe.
EXECUTIVE SUMMARY. On November 5, 2021, the auspicious day of the Hindu New Year, the Economic Times burst a firecracker of a...