Research

In a stunning blow to the credibility of Indusind Bank, its board of directors, Ramesh Sobti, chief executive officer and Russell I Parera, auditor and partner, Price Waterhouse, the bank reported that it had mis-reported its accounts for the year ended March 31, 2017. This was its...

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HDFC Bank RBI divergence story shows, the huge number of analysts and journalists deliberately ignored and continue to be oblivious to a story that is staring at them in their face and it is in this void that independent research can flourish and prosper.

Romesh Sobti, CEO, Indusind Bank, is a veteran banker with 43 years’ experience. He recently went on record to defend the bank’s substantial bridge loan to the fast-collapsing IL&FS, a systemically important non-deposit-taking core investment company. Sadly, he found this writer’s earlier insight on Indusind to be...

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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...

For the last 5 years, the profitability of HDFC Bank, India’s largest bank by market capitalisation, has declined even though its critical net interest margin (NIM) has remained constant. Interestingly, to maintain its pristine margin, the bank has focused on taking on more risk in the form of unsecured retail loans....

EXECUTIVE SUMMARY Yes Bank is in the cross hairs of the Reserve Bank of India (RBI), the banking regulator. On February 13, 2019, the bank issued a press release stating that the regulator’s risk assessment report (RAR) for the year ended March 31,...

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

Reliance Naval Engineering (RNE) will in all likelihood be classified as non-performing by all the concerned banks in the consortium for the quarter ended March 31, 2018. Long facing difficulty meeting its financial obligations, the company finally fell short in the December quarter. In the March quarter, banks in the consortium...