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Articles Published by Hemindra Hazari

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...
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...
Hemindra Hazari In India’s darkest economic hour, with the economy starved of cash, the prime minister extolling the people on the virtues of sacrifice and the Reserve Bank of India (RBI) governor finally emerging from his 14-day absence and silence to reassure citizens, one critical individual has gone “missing”. A...
Contrary to the expectations of life insurance deregulation, some of the large private companies have established their business model on ULIPs, a mutual fund product and in doing so sacrificed the objective of raising genuine life insurance and long-term savings for the economy. In retrospect, the liberalisation of the life insurance sector provided a license to open a casino.
Hemindra Hazari Risk management is the control and nerve centre of a bank. The independence of control and vigilance functions like risk management and audit has to be fiercely protected by the board of directors and the banking regulator. So when a major bank starts downgrading its chief risk officer...
Hemindra Hazari There are high hopes that Urjit Patel, the new RBI governor will act to revive bank lending and thereby do his bit for the economy. But that would require him to make the right diagnosis in the first place. The recently released RBI Annual Report at least shows no sign...
Hemindra Hazari The government’s decision to appoint Urjit Patel, the current deputy governor of the Reserve Bank of India (RBI), to replace Raghuram Rajan as governor of the central bank was met with a chorus of approval by the media, and by captains of industry and financial capital who proclaimed...
Hemindra Hazari The media has gone overboard on the government of India’s decision not to give Raghuram Rajan, the Reserve Bank of India (RBI) governor, a second term, and focused on how the government is unable to retain an internationally acclaimed economist. However, now that Rajan is going, we need...
Hemindra Hazari Axis Bank is one of the favoured stars among the new private sector banks in India, with an enviable reputation. The Banker gave it the Bank of the Year award in 2014; Brand Equity termed it the “Most Trusted Private Sector Bank” two years in a row (2013, 2014); Asiamoney called it the “Best...
Hemindra Hazari ICICI Bank, India’s largest private sector bank by assets, posted shocking results for the quarter ended March 31, 2016. The consensus analyst forecast for the bank’s net profit was Rs. 3,100 crores; the bank reported a paltry Rs. 702 crores. This was an annual decline of 76% (compared to Rs....