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The author acknowledges the contribution of Aspects of India’s Economy (RUPE) for this article EXECUTIVE SUMMARY. There was a sharp rise in corporate India’s external commercial borrowings (ECB) during the past financial year. Outstanding ECBs for December 2019 rose $ 29 bn y-o-y, to $ 223 bn, or 40% of...

Retail-focused new private sector banks, the darlings of the capital market, are facing the ire of the banking regulator. Nearly two months after the Reserve Bank of India (RBI) compelled HDFC Bank to classify a large account as non-performing, thus qualifying the blue-blooded bank for ‘divergence’ (from RBI findings), comes news that the regulator...

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In light of the moratorium on Yes Bank on March 6, 2020, Smartkarma compiled my research notes from May 15, 2017 where I had consistently highlighted my concerns on the bank to create this ebook. Special-Report-How-Independent-Research-Found-a-Fatal-Flaw-with-Yes-BankDownload

Jay Kotak’s appointment comes with questions for the private banking sector, which has mostly eschewed the dynastic tendencies of old-school India Inc companies. Jay Kotak (standing) and Manish Agarwal of the Kotak Mahindra Bank's 811 initiative. Photo: YouTube screengrabSupport Us Listen to this article:BANKING 36 MINUTES AGO On May 26, 2022, a...

EXECUTIVE SUMMARY. In a significant set-back, Yes Bank reported that its accounts for FY2019 were fudged: the banking regulator had detected under-reporting of non-performing loans and credit costs and over-stating of profits by the bank. This development is disturbing, as it undermines the credibility of Ravneet Gill, the new...

After the Reserve Bank of India (RBI) made clear to the board of Axis Bank that it should reconsider its decision to grant the present Chief Executive Officer (CEO) a fourth term, one would have expected the board to have seen the light. But no, shockingly, the board has...

In our experience companies adopt liberal accounting policies to cover up flagging fundamentals otherwise there is rarely a valid business reason.

EXECUTIVE SUMMARY The Central Bureau of Investigation (CBI), India’s premier federal police investigation agency, finally filed a First Information Report (FIR) and charged Chanda Kochhar, former CEO, ICICI Bank, her husband, Deepak Kochhar and V. N. Dhoot, managing director, Videocon Group, with cheating ICICI Bank in the Rs 32.5 bn Videocon loan...

EXECUTIVE SUMMARY. In comparing a company’s stand-alone expenses with its consolidated accounts, it is highly unusual for the consolidated numbers to be lower than the stand-alone numbers. But what has gone unnoticed for some years in HDFC Bank is that its stand-alone ‘other operating expenses’ has been consistently higher...