The fact that the RBI supported the administrator’s actions in the court case indicates that, in all likelihood, it had orally instructed him to proceed.
On January 20, 2023, the Bombay high court dealt a body blow to Yes Bank. It set aside the decision of the then Administrator (and...
Jay Kotak’s appointment comes with questions for the private banking sector, which has mostly eschewed the dynastic tendencies of old-school India Inc companies.
Jay Kotak (standing) and Manish Agarwal of the Kotak Mahindra Bank's 811 initiative. Photo: YouTube screengrabSupport Us
Listen to this article:BANKING 36 MINUTES AGO
On May 26, 2022, a...
It is difficult to read the SEBI's scathing order and not wonder what on earth the NSE board was doing.
In Rudyard Kipling’s Jungle Book, Akela, the lone grey wolf leader, exhorts the pack to “look well” upon the cubs who are to be inducted into the pack as their own....
An account of K.R. Shenoy's life gives us glimpses of a significant phase of Indian banking, one which had far more dynamism than it usually gets credit for.
Hemindra Hazari
The laterite soil of the district of Dakshina Kannada – or ‘south Canara’ as it was referred to before Independence –...
The bank’s official explanation of a technical glitch needs to be examined, by the RBI, which should commission a probe.
Hemindra Hazari
On November 5, 2021, the auspicious day of the Hindu New Year, the Economic Times burst a firecracker of a news story on IndusInd Bank. The story cited whistle blowers (a group...
The RBI’s decision on April 26, 2021 to curtail tenures of bank chief executive officers and executive directors may finally lead to Kotak relinquishing his post at the end of 2023.
Had the Reserve Bank of India (RBI) descended, like Moses, from Mount Sinai, perhaps it would have carried two...
The central bank's decision to not spell out a rationale does little in terms of adding to the ownership debate.
Hemindra Hazari BANKING 12 HOURS AGO
It was surely one of the more odd episodes in the history of banking regulation. The Reserve Bank of India (RBI) recently concluded...
Hemindra Hazari
9 July 2019
On 26 June 2019, confronted with a contempt petition filed in the Supreme Court of India by Right to Information Act, 2005 (RTI) activist, Girish Mittal, the Reserve Bank of India (RBI) finally disclosed the hitherto confidential annual inspection reports, called risk assessment reports (RARs),...
The legal battle concerns the RBI’s instructions to Kotak Mahindra Bank to reduce the promoter holding, and the bank's sharp practices while appearing to comply.
By Hemindra Hazari
MUMBAI, Maharashtra—A royal legal battle has been going on between Kotak Mahindra Bank (KMB) and the banking regulator, the Reserve Bank of India (RBI), in...
BANKING April 10, 2019
The sacked employees feel that they have been given a raw deal, which may have a demoralising impact on the bank's workforce.
By Hemindra Hazari
On April 1, 2019, the eve of Axis Bank’s 25th anniversary of commencing business, Amitabh Chaudhry, the newly anointed chief executive officer (CEO), announced one of his...
