EXECUTIVE SUMMARY. Xmas festivities were disrupted when RBL Bank dropped a bombshell on the stock exchanges. It informed the public that the Reserve Bank of India (RBI), under Section 36AB of the Banking Regulation Act, 1949, had appointed Yogesh K Dayal (Chief General Manager, RBI) as an additional director....
EXECUTIVE SUMMARY. The succession fiasco at HDFC Bank reveals how the banking regulator has allowed a promoter with a minority stake to have a stranglehold on the selection of the chief executive officer (CEO) and the chairman of the bank. Strangely, the board of the bank has to...
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...
EXECUTIVE SUMMARY.
Problem: You are a leading
sell-side analyst. What do you do when confronted with valuable, authoritative,
and hitherto confidential information about India’s leading banks?
A. Highlight it.
B. Analyse it and publish a research report on it.
C. Pretend it doesn’t exist.
The correct answer, of
course, is C. Pink...
EXECUTIVE SUMMARY. A disturbing revelation in the annual report of the banking ombudsman scheme, 2018-2019 (year end June 30), released by the Reserve Bank of India, was the high number of customer complaints per branch of Kotak Mahindra Bank and HDFC Bank -- two favourite banks of foreign institutional...
EXECUTIVE SUMMARY. The sharp slowdown in the Indian economy and the wide publicity to the production cutbacks and layoffs in the automobile sector have cast the spotlight on the retail sector of banking. The business model of HDFC Bank, India’s largest bank by market capitalization, is firmly wrapped around...
Toxic work culture is rife in the Indian financial sector and it is rare for senior executive management to acknowledge abusive behaviour by managers. It was therefore a surprise when Sashidhar Jagdishan, the Chief Executive Officer (CEO), HDFC Bank publicly acknowledged it in the bank’s FY2023 annual report by...
On January 11, 2019, the Reserve
Bank of India (RBI) issued
a press release
informing the public that “by an order dated January 4, 2019 imposed
a monetary penalty of Rs 30 million on Citibank NA India (the bank) for
deficiencies in compliance with the RBI instructions on ‘Fit and Proper’
criteria for directors...
