India’s federal police filed a case alleging that former ICICI Bank Ltd. Chief Executive Officer Chanda Kochhar got “illegal gratification” for approving a loan to the Videocon Group in violation of the lender’s credit policy and regulatory provisions.
In the filing at a police station in New Delhi, the agency...
As Rana Kapoor, the co-founder and chief executive officer of Yes Bank Ltd., prepares to exit officetwo months from now, both he and the bank he built have become subjects of intense scrutiny.
On Tuesday, rating agency Moody’s Investors Service cut the bank’s rating citing corporate governance concerns. The agency cited recent resignations from the...
G.R. Gopinath DECEMBER 02, 2020 00:15 IST UPDATED: DECEMBER 01, 2020 22:58 IST
They will not only enrich themselves but also crush competition
First, a confession is in order. Would I want to own a bank and have a key to the bank treasury to start a new airline? You bet! Can...
Moneylife Digital Team10 January 2020
Uttam Prakash Agarwal, an independent director and chairman of the audit committee of the board of Yes Bank has resigned, while making certain observations on the governance of the bank. While confirming the resignation, Yes Bank has said, its board was scheduled to review...
13 Sep, 2020Zia Khan Gaurav Raghuvanshi Mohammad Abbas Taqi
Banking
India's state-owned banks have lagged behind their private-sector peers in tapping equity capital markets so far this year and are likely to remain dependent on government capital injections amid depleted market valuations and rising bad loans in a pandemic-battered economy, analysts...
Nikhil Inamdar & Archana Shukla
BBC News, Mumbai
“This is unprecedented,” says Hemindra Hazari, an independent business analyst. “Until yesterday it was allegations from the outside, now internal problems have become public. Something is seriously wrong.”
But things could take a turn for the worse if the controversy snowballs further, says Mr...
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 PM IST UPDATED: Mar 24, 2020 06:01:17 PM IST
As soon as...
