EXECUTIVE SUMMARY. Despites the paeans of self-praise in annual reports, exposé after exposé by the media reveal the abysmal state of corporate governance in private financial capital. The latest in these revelations by ET Prime is how Yes Bank disbursed a Rs 5.12 bn loan to Oyster Buildwell, an...
EXECUTIVE SUMMARY. Most private sector banks withhold the remuneration details of senior executives in the annual reports. However, shareholders can specifically request this disclosure from companies. The remuneration disclosure provides valuable information on the quantum of monetary compensation, revealing how senior managers have been appraised and compensated.
In Indusind Bank,...
A Kotak family entity, Infina Finance Private Ltd. (Infina), purchased electoral bonds totalling Rs 1.3 billion – which is more than twice the amount disclosed by the State Bank of India (SBI) to the Election Commission of India (ECI) during FY2019 to FY2022.
In FY2020, the company purchased Rs 760...
EXECUTIVE SUMMARY. The Reserve Bank of India’s (RBI) draft scheme for the reconstruction of Yes Bank is unlikely to restore the confidence of the bank’s depositors, especially its current and savings account (CASA) depositors, who are likely to desert the bank once the moratorium is lifted. Once a bank...
EXECUTIVE SUMMARY. The argument made at the time of opening up the life insurance sector and allowing the private sector was that doing so would increase life insurance penetration (life premium/GDP) and thereby increase long term savings, which would flow into infrastructure investments (which are inherently long-term). But despite...
EXECUTIVE SUMMARY. The near-absence of a government stimulus to revive the Indian economy from the Covid-19 meltdown portends a severe and prolonged economic slowdown. This will squarely hit the banking industry with huge credit costs and low growth. In such a dismal scenario, the only lever available to the...
EXECUTIVE SUMMARY. A visit by road to some of the scenic tourist destinations in the mountainous and mainly rural state of Himachal Pradesh highlights the negligible presence of private sector banks and the sheer dominance of government banks, particularly Punjab National Bank and the banking behmoth, State Bank of...
EXECUTIVE SUMMARY. Following in the footsteps of Raghuram Rajan, who during his tenure as Reserve Bank of India (RBI) governor accepted the fifth Deutsche Bank award in 2013 for financial economics, Shaktikanta Das, the present RBI governor accepted the Economic Times 2020 award for 'Business Reformer of the Year'....
EXECUTIVE SUMMARY.
“What is the robbing of a bank compared to the founding of one?” – Bertolt Brecht
An internal working group (IWG) of the Reserve Bank of India (RBI) to review ownership guidelines and corporate structure for Indian private sector banks has recommended that large industrial houses be allowed...
