Hemindra Hazari
Money laundering is not alien to Axis Bank. On July 26, 2011, an investigation by the online media firm, Cobrapost, showed officials of both private and government banks soliciting clients for laundering black money. The sting videos revealed these practices to be widespread at Axis Bank . In June...
EXECUTIVE SUMMARY. The credit rating agency, ICRA (an affiliate of Moody’s) has finally sacked Naresh Takkar, its chief executive officer (CEO). This appears to be a belated response to pressure from the Securities and Exchange Board of India (SEBI), the capital markets regulator. Earlier, following an anonymous complaint to SEBI, reportedly...
EXECUTIVE SUMMARY. In a bizarre episode which raises critical questions regarding basic norms of corporate governance, Sandeep Parekh, independent director of HDFC Bank, took to Twitter to publicly comment on the succession issue of the HDFC Bank CEO. Parekh, a corporate lawyer and former Securities and Exchange Board of...
Even in a rowdy game of soccer, two yellow cards result in dismissal from the field of play. Indian banking, though, adheres to lower standards. For two consecutive years, Axis Bank has been exposed by the regulator for mis-reporting in its financial statements; yet the bank’s board of directors...
HDFC Bank has used ingenious ways to understate its profits under Indian provisioning rules for FY2000. Apparently the year ended with the bank being flush with profits and, therefore, management decided to use some of its FY2000 profits for future contingencies.
HDFC-Bank-BUY-3-May-2000Download
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...
Customers of HDFC Bank, India’s most valuable and one of the most expensive banks in the world have been hard hit in the ongoing demonetisation saga in India. Depositors of HDFC Bank have been complaining about their inability to withdraw the Reserve Bank of India’s (RBI) stipulated cash withdrawal...
EXECUTIVE SUMMARY. HDFC Bank’s low-cost liabilities strategy of focusing on huge numbers of new client acquisitions in the semi-urban and rural centres may be getting large numbers of new customers, but is not resulting in significant growth in current and savings account deposits (CASA). The pressure on CASA appears...
EXECUTIVE SUMMARY. A newly-appointed (on October 9, 2020) deputy governor of the Reserve Bank of India (RBI) has proposed, for discussion, that large systemically-important non-bank finance companies (NBFCs) either convert themselves into banks, or that they contract assets, in order to protect financial stability. This proposal not only has...
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...
