“Some would call it strange for the same auditor to audit competing banks in the same year. What is even more unusual is that the accounts certified of both the banks by the same, individual statutory auditor have been found misleading by the statutory regulator,” Hazari had written in one of his columns for The Wire.
“It is a positive development. It should be followed up with the criminal action because disinformation by banks is criminal under section 46 (1) of the Banking Regulation Act 1949,” said independent banking analyst Hemindra Hazari.
KATYA NAIDUMAY 29, 2019, 19:43 IST
IndusInd Bank’s provision for losses from IL&FS may be too little too late, according to an analyst.The provision for bad loans in the latest quarter should have come at least eight months ago,...
Experts say the appointment of an additional director on its board is RBI's way of having its eyes and ears in the bank
BY SALIL PANCHAL Forbes India Staff2 min read PUBLISHED: May 22, 2019F
“Q1 FY20 is expected to be poor on account of stressed loans slipping to NPAs,” says Hazari.
Hazari told Newsclick: “Except for a few special purpose vehicles which have ring-fenced their cash flows, the entire IL&FS group will be NPA for banks & NBFCs.”
“When all group companies are constrained by liquidity problems, the strongest company will get impacted as a natural fallout,” said Hemindra Hazari
Yes Bank watchlist also highlights the failure of credit rating agencies and analysts to spot anomalies and catch red flags on defaults and stress early on.
Ravi Krishnan@writesravi
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The...
Viswanath Pilla@viswanath_pilla
Experts who participated in a panel discussion on CNBC-Awaaz on the Kotak Mahindra Bank-Reserve Bank of India (RBI) dispute over promoter stake dilution feel the bank’s promoters need to comply...
India's richest man's endorsement of Congress candidate Milind Deora is a significant development in the current political climate, say political observers.
NEWS18/04/2019 9:18 PM IST
Chairman...
