The Reserve Bank of India’s (RBI) approval of the selection of Amitabh Chaudhry, the then HDFC Standard Life Insurance Chief Executive Officer (CEO), as the Axis Bank CEO on August 8, 2018, and his taking charge on January 1, 2019, were celebrated by the market. Analysts and...
EXECUTIVE SUMMARY. In a stunning rebuke to audit firm S.R. Batliboi (SRB), a member firm of Ernst & Young, the Reserve Bank of India (RBI) barred the firm from taking any bank audit for 1 year commencing from April 1, 2019. The public humiliation of a leading audit firm...
EXECUTIVE SUMMARY. In a little-publicised step, the Securities and Exchange Board of India (SEBI) has directed the first 1,000 companies by market capitalisation on the Indian bourses to disclose voluminous information in their business responsibility and sustainability reporting. For FY2022 this is voluntary, but from FY2023 it is to...
In the ongoing flirtation with the West, India must remember the Western humiliation of Iraq, which was nurtured to serve western interests and was subsequently destroyed when it discarded the western yoke.
Naval-Strategy-10Dec1991Download
EXECUTIVE SUMMARY. There are two features worth noting in HDFC Bank’s 4QFY2021 results. The first is the continuing de-emphasis on retail loans. This was visible in the lower retail loan growth and the poor performance of HDB Financial Services, the non-bank finance subsidiary which is bearing the brunt of...
EXECUTIVE SUMMARY. All indicators point to a disturbing slowdown in India’s economy in recent months: the Index of Industrial Production, the Purchasing Managers’ Index, the fixed investment rate, and even GDP. Farm prices have collapsed, resulting in negative growth in value added in agriculture; real rural wages have slumped;...
The systemic erosion of public institutions indicates that Vinod Rai, a roaring tiger, has been reduced to a caged parrot, and the BBB’s expiry date is fast approaching. Perhaps the BCCI will turn out to be a more absorbing engagement than the nation’s public sector banks.
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 –...
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...