Infosys’ stock closes 16.21% lower at ₹643.30 at the end of Tuesday’s trade over allegations of unethical practices by CEO Salil Parekh and CFO Nilanjan Roy. By NEHA BOTHRA,  Oct 22, 2019 4 min read Information technology (IT) giant Infosys’ stock took a...
“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.
Banks in India might never be in for a more challenging, or should one say, exciting phase. In the next two years, some of the biggest new private sector banks in India—ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank and HDFC Bank—will have new leaders. The exits of the leaders...
3 min read. 09:31 PM IST Dhirendra Tripathi It all started on 24 Jan when independent director Sandeep Parekh panned a news report that said HDFC Bank had roped in the services of Egon Zehnder to identify a successor to Adita Puri
While the media was occupied with the government’s sudden move to replace the board of Infrastructure Leasing and Financial Services (IL&FS), another drama was playing out at the swanky headquarters of the firm.  The Serious Frauds Investigation Office (SFIO) was primed to spring into action, even as the...
Worried customers have been queuing to withdraw money from India's Yes Bank after the country's central bank seized control of the troubled lender. The Reserve Bank of India (RBI) said it wanted to "quickly restore depositors' confidence" in the bank. Depositors...
“Once a bank is put under a moratorium, its deposit franchise is irrevocably eroded, as banking is all about trust,” Hazari wrote.
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...