Capital Market

Capital market articles published by Hemindra Hazari

In an unprecedented act, Kotak Mahindra Bank (KMB) on December 10, 2018 filed a writ petition in the Bombay high court against the Reserve Bank of India. The writ prayed for permission to include its preference capital (a debt instrument) issue in paid-up capital, thereby lowering the stake of the promoters...
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 earlier statement that his resignation was...
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...
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 State Bank of India (SBI) is India’s largest bank by assets and the government’s most prestigious bank. Formerly the Imperial Bank of India under British rule, the SBI long remained something of an empire, its chairmen exalted figures ruling over an army of 235,858 employees. Unfortunately, the SBI...
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...
With the help of a whistleblower, the Rajasthan police is prosecuting cases of insurance schemes mis-sold by ICICI as fixed deposits to unsuspecting customers. But the country's insurance and banking regulators don't seem bothered. Victims narrate their stories about how they were mis-sold insurance policies. Credit: Insurance Angels Hemindra Hazari ...
It is curious that the first step of a reform-minded Chicago-school scholar was to announce a subsidy. Of course, unlike the subsidies that Rajan criticised as chairman of the Committee on Financial Sector Reforms in September 2008, this subsidy would go not to low income sections of the population, but to the banks.
Hemindra Hazari 4 March 2017 Axis Bank has had a tough year. Just as it was slowly recovering from the demonetisation fiasco, wherein some of its officials were arrested for money laundering, its non-watch list corporate loans slipped into the non-performing category in the third quarter of FY’2017. In the last month, news...
SBI's massive restructuring of standard loans are finally coming home to roost with a vengeance. Hemindra HazariBANKING13/FEB/2018 SBI’s headquarters in Mumbai. Credit: Reuters On February 9, 2018, a sad day dawned in the history of Indian banking. The State Bank of India, the government’s premier bank and India’s most prestigious, reported that...