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Capital Market

Capital market articles published by Hemindra Hazari

Hemindra Hazari 23/MAY/2017 Recently, Axis Bank and Yes Bank jolted the Indian banking community while releasing their annual results. Both banks disclosed a staggeringly large divergence between the banks’ audited accounts and the Reserve Bank of India’s (RBI)  findings regarding...
By Hemindra Hazari On January 11, 2019, the Reserve Bank of India (RBI)  issued a press release informing the public that “by an order dated January 4, 2019 imposed a monetary penalty of Rs 30 million on Citibank N.A. India (the bank) for deficiencies in compliance...
Mumbai: It is the season of resignations for the independent directors of India Inc’s corporate boards. The recent stormy exit of R. Chandrashekhar from the board of Yes Bank caught the media’s attention, after which the private sector lender had to issue an apology to the stock exchanges and retract its...
Hemindra Hazari Everyone knows public sector banks are less profitable, more prone to political influence and have higher ratios of non-performing assets (NPAs) than their private sector counterparts. In contrast, new private sector banks, set up post 1991, are media and stock market darlings....
Claudius, in Hamlet, noted that “When sorrows come, they come not single spies but in battalions.” He could well have been speaking about the woes of Yes Bank shareholders. The last few months, and in particular November, have been a punch in the gut to...
By Hemindra Hazari Even in a season of corporate misgovernance, scams and lack of any CEO-level and board-level accountability, a new leviathan of misgovernance threatens to dwarf the rest. Emerging from the murky depths – where it seems...
Hemindra Hazari Money laundering is not alien to Axis Bank. On July 26, 2011, an investigation by the online media firm, Cobrapost, showed officials of both private and government banks soliciting clients for laundering black money. The sting videos revealed these practices to be...
The now-beleaguered and much-derided Infrastructure Leasing & Financial Services Limited (IL&FS) holds its annual general meeting on September 29. IL&FS has a handful of major shareholders who, like Kumbakarna of Ramayana fame, were in deep slumber through the long night of mismanagement, and it remains to be seen whether these same...
A liquidity crisis of such a magnitude is not an overnight phenomena yet the credit rating agency certified the compnay as investment grade thereby misinforming bond holders and bankers