BUSINESS
Exclusive | Bandhan Bank hires Egon Zehnder to find a CEO to replace Ghosh
Bandhan Bank said on April 5 that the lender’s MD & CEO, Chandra Shekhar Ghosh, will retire after completing his current tenure on July 9.
BUSINESS
MC Analysis | MPC may face double whammy if Israel war escalates, heat wave wreaks havoc on food prices
The RBI’s 4.5% inflation projection for FY25 assumes a normal monsoon. However, heat waves could impact food production and water levels.
BUSINESS
Banking Central | The making of Bandhan Bank and the end of an era as Ghosh plans to retire
On April 5, Bandhan Bank said Chandra Shekhar Ghosh will retire from the post after his tenure ends on July 9. That came as a surprise to many as earlier, on November 24, 2023, the board of the bank had approved his reappointment as the MD and CEO of the bank for a period of three years.
BUSINESS
Banking Central | How long is too long? The answer to rate cut hinges on food price inflation
On Friday, the MPC’s decision to leave key rates unchanged came on the expected lines. Das’ comments leave strong clues on what’s the approach on rate cuts.
BUSINESS
Exclusive: Decision to step down voluntary, search committee set up to choose new CEO, says Bandhan Bank’s Ghosh
Bandhan Bank said on April 5 that the lender’s MD & CEO, Chandra Shekhar Ghosh, will retire after completing his current tenure on July 9.
BUSINESS
RBI MPC in Quick View | Das sticks to script as food price plays villain in inflation story
Among all challenges on inflation, uncertainty on food prices remains the biggest upside risk
BUSINESS
RBI Policy: MPC maintains vigil on inflation, leaves repo rate unchanged at 6.5%
The RBI has been fighting a prolonged battle against a persistently high inflation by using a mix of monetary and liquidity tools.
BUSINESS
Exclusive Interview: “Next 3-6 months will tell us how the entire business with Paytm pans out,” says Amitabh Chaudhry
Chaudhry said the RBI’s unhappiness with the rising exposure of banks to NBFCs arises from the fact that, in some cases, lending through fintechs or NBFCs happens without banks taking ownership
BUSINESS
Banking Central | RBI@90: How Mint Street fought many battles to save India from crises
In the post-global financial crisis period, Indian banks let loose their purse strings carelessly, pushing credit to anyone who knocked on their doors, thus creating a major asset quality challenge for the Indian central bank to manage in the following years
BUSINESS
Murali Ramakrishnan, former MD & CEO at South Indian bank, joins Bain & Company as external advisor
Ramkrishnan’s term at South Indian Bank ended in September 2023 after he opted not to be re-appointed due to personal reasons
BUSINESS
MPC Policy Preview: Five reasons why surprises are unlikely on repo rate, stance
The MPC is likely to maintain a status quo on repo rate and stance and will continue a wait-and-watch mode as more inflation cues emerge.
BUSINESS
RBI to start special audit for IIFL Finance, JM Financial Products from April 12
On March 4, the RBI asked IIFL Finance to stop sanctioning or disbursing gold loans with immediate effect after observing certain material supervisory concerns in the company's gold loan portfolio.
INDIA
ECI data: Coimbatore lottery tycoon Santiago Martin’s Future Gaming emerges as big donor to TMC, DMK
Future Gaming contributed a total of Rs 1,368 crore through electoral bonds between 2019 and 2023. Founded in December 1991, Future Gaming and Hotel Services Private Limited was registered in Coimbatore by Santiago Martin
BUSINESS
Banking Central | When will small co-operative banks get rid of political strongmen?
Smaller ones continue to be under the rule of state governments through registrar of cooperative societies. This is where the local politicians are involved in a big way and laundering the money collected from society members for personal benefits with or without the knowing of the political parties. This needs to be stopped.
BUSINESS
RBI sounds cyber threat alert to select banks, issues action points to plug security gaps
India’s banks had reported 248 successful data breaches by hackers and miscreants between June 2018 and March 2022, most of which pertain to card details leakage and theft of business and non-business information
BUSINESS
Hyderabad-based infra major and a lottery company from Coimbatore: Meet the biggest political donors
Hyderabad-based infrastructure company Megha Engineering (MEIL) contributed Rs 980 crores through electoral bonds while Future Gaming contributed Rs 1,368 crores.
BUSINESS
Banking Central | Banks fret over surge in education loans and rising layoffs
Education loans are typically considered low-risk loans by banks. But things can change during an economic downturn when job losses and hiring cuts happen
BUSINESS
More shadow banks to come under glare as RBI tries to curb sensitive sector lending
The RBI wants to avoid a potential build-up of crisis in high-risk lending by taking pre-emptive actions wherever it identifies unhealthy lending practices
BUSINESS
JM Financial: RBI worried about KYC, AML rule violations, sharing of customer data across group entities, say sources
On March 5, the RBI barred JMFPL from giving loans against shares and debentures, including sanction and disbursal of loans against Initial Public Offering (IPO) of shares, with immediate effect.
BUSINESS
MC Analysis | NBFC crackdown: RBI ko gussa kyon aata hai?
A closer look at some of these cases shows that the central bank has repeatedly cited lapses in governance practices, poor credit underwriting standards, and non-compliance with risk management rules
BUSINESS
Banking Central | Will Board reshuffle help Paytm Bank to stay in the game?
The ongoing saga between PPBL and the RBI underscores the complexities of fintech regulation and the imperative for robust compliance frameworks. As stakeholders navigate this turbulent terrain, the repercussions of PPBL's regulatory challenges reverberate throughout India's banking landscape.
BUSINESS
At least 200 meetings in last 6 months: That's RBI's engagement with fintech sphere
Early this week, the finance ministry had met fintech industry to discuss the industry issues which was also attended by RBI top brass
BUSINESS
Delhi meet sees RBI assurance of more regular, structured engagement with fintechs
The RBI clampdown on the fintech major Paytm had invited criticism from certain quarters that the regulatory action will stifle innovation in the fintech ecosystem
BUSINESS
Kotak Mahindra Bank revisits unsecured lending strategy after RBI alert, says consumer banking head
The RBI last year increased risk weights on consumer loans in a bid to discourage rampant lending by both banks and NBFCs in unsecured loans
