“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.
“When all group companies are constrained by liquidity problems, the strongest company will get impacted as a natural fallout,” said Hemindra Hazari
Sashidhar Jagdishan inherits a proven entity from predecessor Aditya Puri. However, the 'bank insider' will have to rebuild trust among business leaders and devise his own strategy when NPAs rise
BY SALIL PANCHAL, Forbes India Staff 5 min readPUBLISHED: Aug 10, 2020...
“Once a bank is put under a moratorium, its deposit franchise is irrevocably eroded, as banking is all about trust,” Hazari wrote.
Independent banking expert Hemindra Hazari, who has studied the governance of banks in India extensively, says that he was “not surprised” that all these events have come to light in recent months, post Puri’s retirement. “Puri was so focussed on achieving targets and getting the ladoo in each business line that compliance took a backseat under his leadership,” Hazari says. Jagdishan is firmly trying to correct this while not compromising on growth. “Jagdishan is doing an honest job.’
The Yes Bank turmoil came with a one-off solution, but newer banks will not be spared from the infectious effect. And Covid-19 will only hurt retail lending more
BY SALIL PANCHAL, Forbes India Staff 9 min read PUBLISHED: Mar 24, 2020 03:39:36...
The RBI wants to see improved governance from private banks through proposed rules that limit the roles and tenures of CEOs. But will they work?
BY SALIL PANCHAL, Forbes India Staff 7 min read PUBLISHED: Jul 6, 2020 05:12:39 PM IST UPDATED: Jul...
Uday
Kotak is a cautious and savvy banker with deep and strong connections in the
business world. However, by no stretch, is he an activist. So, why would
he drag his regulator to court, especially the Reserve Bank of India (RBI)
which has always guarded its ‘independence’ or lack of public...
Hudson Lockett in Hong Kong, Benjamin Parkin and Stephanie Findlay in New Delhi
Fortunes of billionaires Mukesh Ambani and Gautam Adani soar past likes of Alibaba’s Jack Ma
India’s industrial moguls Mukesh Ambani and Gautam Adani have swept past the likes of China’s Jack Ma in...
Alexander Sazonov
Bloomberg / Updated: Jun 18, 2021, 07:59 IST
NEW DELHI: Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raising questions about some offshore investors triggered a rout in his conglomerate’s six listed...
