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...
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...
Hemindra Hazari
In the ongoing demonetisation saga, the credibility of India’s central bank keeps plunging to new depths.
Repeated contradictory notifications, restrictions on cash withdrawal of deposits, inadequacy of new notes to replace the withdrawn high denomination notes, and a complete lack of transparency are just a handful of examples....
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
In India’s darkest economic hour, with the economy starved of cash, the prime minister extolling the people on the virtues of sacrifice and the Reserve Bank of India (RBI) governor finally emerging from his 14-day absence and silence to reassure citizens, one critical individual has gone “missing”. A...
Hemindra Hazari
The media has gone overboard on the government of India’s decision not to give Raghuram Rajan, the Reserve Bank of India (RBI) governor, a second term, and focused on how the government is unable to retain an internationally acclaimed economist. However, now that Rajan is going, we need...
By Hemindra Hazari
Even on their best days, India’s financial newspapers are watchdogs that rarely bark. For the most part, they prefer not to place large companies under the scanner, let alone try and fix accountability on influential promoters and powerful chief executive officers.
On March 20, 2019, Business Standard (BS) announced that...
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Hemindra Hazari 27 March 2017
Can half the workforce of rural India be considered “marginal to the economy”? That, it appears, is what Lord Meghnad Desai, eminent economist, Gujarat-born and UK-naturalised Labour life peer and Indian Express columnist, believes.
Desai has had a notable academic career, earning his doctorate at the University of...
Hemindra Hazari
Risk management is the control and nerve centre of a bank. The independence of control and vigilance functions like risk management and audit has to be fiercely protected by the board of directors and the banking regulator. So when a major bank starts downgrading its chief risk officer...
