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...
If Chanda Kochhar had disclosed her husband's dealings and recused herself from the credit committee that sanctioned the Videocon loan, her personal integrity would not be under question right now.
Credit: Reuters
Hemindra HazariBANKING02/APR/2018
ICICI Bank chairman M.K. Sharma displayed utter contempt for the media and public by calling for a press conference,...
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...
Hemindra Hazari
The year is not even three weeks old but has already been unkind to financial markets. The stock market is back to pre-Modi levels; the rupee is back to pre-Raghuram Rajan levels.
While global markets absorbed the US Federal hike in late December 2015, the stock market meltdown in...
Hemindra Hazari
Equity research analysts produce impressive reports, operate complex statistical models, and can talk confidently about the future on the business channels. But the past year has not been kind to the fundamental predictions of most analysts.
In particular, there is a strong inbuilt bias of analysts to remain bullish....
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
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...
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 ...
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...
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...
