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Articles Published by Hemindra Hazari

EXECUTIVE SUMMARY. “hush money”: money paid to someone to prevent them from disclosing embarrassing or discreditable information – Concise Oxford English Dictionary HDFC Bank, India’s most valuable bank, has been found to be levying ‘processing fees’ on prospective retail customers...
EXECUTIVE SUMMARY. While Axis Bank has recovered from its corporate non-performing asset (NPA) crisis, it seems to be in the midst of a management attrition problem, partly explained by significant sackings in FY2020. Staff turnover levels have been steadily rising in the period FY2018 – FY2020 (FY2021...
EXECUTIVE SUMMARY. Two long serving senior executives of HDFC Bank who headed important business verticals have abruptly quit the bank, reportedly under unusual circumstances. Abhay Aima (Group Head – Private Banking), quit sometime in FY2020, while Ashok Khanna (Group Head – Secured Vehicle Loans) left in early...
EXECUTIVE SUMMARY. On September 13, 2019, a court in Udaipur, Rajasthan took cognisance of  charges and issued bailable warrants against Sandeep Bakhshi, Chief Executive Officer (CEO), ICICI Bank and other officials of ICICI Prudential Life Insurance (ICICI Pru Life) for criminal conduct under the Indian Penal...
EXECUTIVE SUMMARY. Recently, the Reserve Bank of India (RBI) was forced to disclose its confidential inspection reports, called Risk Assessment Reports (RARs), of the State Bank of India (SBI), HDFC Bank, ICICI Bank and Axis Bank for the years FY2013 to FY2015. Shockingly, among the four banks,...
EXECUTIVE SUMMARY. A closer look at Axis Bank’s staff data reveals the alarming mortality rate of new hires in the bank, and provides a glimpse of new hire attrition in the private banking industry in India. This appears to be a symptom of toxic work culture at...
On May 12, 2017, Yes Bank, released its annual report for the year ended March 31, 2017 where the Reserve Bank of India’s (RBI) mandatory disclosure showed that for the year ended March 31, 2016, the bank’s gross non-performing assets (NPAs) was higher by 5.6x to Rs49.3bn...
EXECUTIVE SUMMARY. Despite ICICI Prudential Life Insurance (IPru Life) reporting improvement in long-term persistency ratios, there are worrying examples of brazen mis-selling of life insurance policies by the company through its corporate agent, Angel Financial Advisors and even its parent, ICICI Bank. The cases of two 21-year...
EXECUTIVE SUMMARY. The Reserve Bank of India’s (RBI) decision to temporarily put a halt to all digital launches of HDFC Bank’s financial products and also cease all new issuances of credit cards by the bank brings to the fore the huge reputational risk on account of the...
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