Hemindra Hazari
The Economic Survey is the flagship document of the Ministry of Finance, presented by the finance minister to parliament on a day prior to the release of the Union Budget. This prestigious economic document is the responsibility of the chief economic adviser to the Indian government and is widely...
February 23, 2018 by rupeindia
— Hemindra Hazari writes:
The Punjab National Bank (PNB) Nirav Modi scam has led to a clamour from certain quarters for the privatization of India’s Government banks. It was only to be expected that Assocham , the corporate sector body, saw in this development a chance to ask for...
India’s private sector banks were held up for years as the standard of efficency and corporate governance to which public sector banks should aspire. But now it emerges that private bank after private bank has in fact been harbouring bad debts, fudged accounts, corrupt deals, gross mismanagement, overly paid CEOs and...
Even though the government has intervened and installed a new board, the IL&FS saga continues with no resolution in immediate sight. Daily reports of defaults of IL&FS group companies are heightening concerns in the financial market. This is happening in the back drop of the rupee in free fall, stock market...
Ravi Narayanan, the 55-year old Group-Head in-charge of retail branches, retail liabilities and third party products abruptly resigned from Axis Bank on March 13, 2024 because he wished to pursue an “entrepreneurial journey”. He will be relieved on March 22, 2024, to conform to his wish for an early...
Hemindra Hazari
ICICI Bank, India’s largest private sector bank by assets, posted shocking results for the quarter ended March 31, 2016. The consensus analyst forecast for the bank’s net profit was Rs. 3,100 crores; the bank reported a paltry Rs. 702 crores. This was an annual decline of 76% (compared to Rs....
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 with the RBI instructions on ‘Fit...
Although Roopa Kudva quit the bank transparency body in July 2017, there has been no public intimation of this development.
Hemindra HazariBANKINGECONOMY02/OCT/2017
(Left to right) Omidiyar Network india’s Roopa Kudva, Finance Minister Arun Jaitley and Banks Board Bureau chief Vinod Rai.
Mumbai: Roopa Kudva, managing director of Omidyar Network India Advisors, has...
Hemindra Hazari 20 March 2017
After the BJP’s decisive victory in the Uttar Pradesh (UP) state elections, alarm bells have started tolling in the capital market.
The primary cause for concern is the BJP’s promise to the UP electorate to waive off all farm loans and provide fresh loans at zero percent interest. Capital market...
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 shareholders display...
