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 ...
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...
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...
There is a paucity of demand of India – which requires an expansionary fiscal policy to revive employment, growth and investment.
Money. Credit: PTI
Hemindra HazariBANKINGBUSINESSECONOMY01/FEB/2018
There was widespread apprehension in the capital market that 2018 budget would be “populist” and voter-friendly in a year when state elections may be simultaneously held...
A strange picture of India’s financial system is being drawn, where privatisation is being pushed even as critical analysis and reporting on private sector entities is slowly being discouraged.
Hemindra HazariBANKING29/DEC/2017
As we bid farewell to 2017, The Wire looks back at some of the markers of disruption that affected different spheres, from politics...
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...
The display of such largesse should be a troubling signal for shareholders who worry about corporate governance.
Hemindra HazariBANKINGGOVERNMENT25/JUL/2017
Rewarding senior management during a particularly bad year should be a troubling signal for shareholders. Credit: Reuters
Mumbai: In a year when the net profit of Axis Bank – India’s third-largest private bank –...
State Bank of India (SBI), India’s largest bank, became even larger with the merger of its five commercial banking subsidiaries on April 1, 2017.
Leading up to the All Fool’s Day merger, in mid-February 2017, finance minister Arun Jaitley was confident the step would make the bank a global player; a month...
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 bad loans on the books of these banks...
The systemic erosion of public institutions indicates that Vinod Rai, a roaring tiger, has been reduced to a caged parrot, and the BBB’s expiry date is fast approaching. Perhaps the BCCI will turn out to be a more absorbing engagement than the nation’s public sector banks.
