EXECUTIVE SUMMARY. At a time when the economic environment is very volatile, and HDFC Bank’s share price has seen an unexpected slump, comes news of another bizarre corporate governance episode. Once more this paints a sorry picture of the board of India’s number 1 bank by market capitalisation, and...
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...
An account of K.R. Shenoy's life gives us glimpses of a significant phase of Indian banking, one which had far more dynamism than it usually gets credit for.
Hemindra Hazari
The laterite soil of the district of Dakshina Kannada – or ‘south Canara’ as it was referred to before Independence –...
Kotak Mahindra Bank (KMB) sent the following response to this analyst’s article, “KMB Talks of “Highest Standards of Corporate Governance”, But Avoids Telling Shareholders about Adverse SEBI Orders against Executive Director” (dated August 3, 2022; it was later released to the general public as well, on grounds of public...
The bank’s promoter-cum-CEO and its board of directors have not understood the letter and spirit of an important banking rule, but have instead sought to take it as a starting point for negotiation.
Uday Kotak. Credit: Reuters
Hemindra HazariBANKING17/AUG/2018
In an indictment of Kotak Mahindra Bank (KMB) and its promoter-CEO, Uday Kotak,...
EXECUTIVE SUMMARY. To address the woeful state of corporate governance in India’s banking sector, especially in the much fancied and widely covered private sector (in which foreign institutional investors are heavily invested), the Reserve Bank of India (RBI) released a discussion paper on ‘Governance in Commercial Banks in India.”...
EXECUTIVE SUMMARY. Government banks have been derided for indulging in ‘phone banking’ (being instructed on the telephone by ruling party politicians and civil bureaucrats to lend to specific unworthy companies). But what the Enforcement Directorate’s (ED) affidavit in the Delhi Court (as disclosed by the media -- here and...
EXECUTIVE SUMMARY. In the last 7 1/2 years private sector banks have increased their market share in overall deposits and credit in the industry. More importantly, in the critical metropolitan (population 1 mn+) areas, which account for the majority of banking business, their gains have been even higher. Government...
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...
