The ICICI Bank Board recently staged a ringing defence of its Chief Executive Officer (CEO), Chanda Kochhar with a categorical press statement reposing trust in her. Now that statement has blown up in the board’s face. A new exposé has revealed the smoking gun: Kochhar and her family were...
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 shimmering lustre of India’s crown jewel of banking, HDFC Bank, is attributed to its chief executive officer (CEO), Aditya Puri. In a span of nearly 24 years he has taken its market capitalisation to US$ 74.4 bn, easily surpassing State Bank of India, the banking behemoth. The secular...
Where it has powers, the RBI has refused to use them, even when serious lapses in management are detected.
Former RBI governor Urjit Patel. Credit: Reuters
Hemindra Hazari BANKING 20/MAR/2018
Urjit Patel is normally a very reticent man. So much so that as the Reserve Bank of India (RBI) governor, the individual...
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...
