BUSINESS
Banking Central | Why is toxic work culture on the rise in our banks?
Typically, in banks, victims do not file formal complaints fearing retribution during promotions and performance assessments. This is another reason why such cases continue to occur. Whatever the reasons, this toxic culture needs to stop.
BUSINESS
MC Exclusive| Paytm partnership going extremely good; 1.2 bn transactions every month, says Yes Bank CEO Prashant Kumar
The entire flow of Paytm transactions is happening through us without any problem, Kumar said .On March 15, Moneycontrol reported that Yes Bank and Axis Bank are going live on Paytm app.
BUSINESS
Interview | Yes Bank spending Rs 1,000 crore annually to bolster technology, says CEO Prashant Kumar
In a detailed interview, Yes Bank CEO outlined the path ahead for the bank including building a microfinance business and the corrective actions taken so far.
BUSINESS
MC Exclusive | Yes Bank CEO Prashant Kumar says he's not concerned about shareholding change at the bank
Regulations state that a bank cannot remain invested in another bank, Kumar pointed out, adding that it was important to find a strategic investor to replace State Bank of India when YES Bank had returned to normalcy.
BUSINESS
MC Exclusive: 25% of YES Bank’s investment in RIDF to mature in FY25: Prashant Kumar, CEO
The bank has around 11 percent of its funds placed in the RIDF, which works out to be around Rs 44,000 crore, Kumar added.
BUSINESS
Bandhan Bank may evaluate external candidates in hunt for MD Ghosh's successor
Bandhan Bank said on April 5 that the lender’s MD and CEO Chandra Shekhar Ghosh will retire after completing his current tenure on July 9
BUSINESS
Banking Central | Why did legendary banker N Vaghul oppose corporate entry in banking?
The veteran banker had strong views on corporate entry into banking business. Vaghul explained that India had learnt from its pre-bank nationalisation experience and will never repeat the same mistakes by allowing large corporations into banking.
BUSINESS
Legendary banker and former ICICI Bank Chairman N Vaghul passes away
During his decades-long career, Vaghul was instrumental in building ICICI Bank from an early-stage financial institution into a full-fledged bank. He mentored many senior executives at the bank, including the likes of KV Kamath.
BUSINESS
Banking Central | Loan waiver neither good for borrowers, nor for banks, but a big bait in polls
Political parties announcing farm loan waivers could damage credit culture and lead to a rise in loan defaults even from honest, repaying borrowers as we have seen in the past.
BUSINESS
Banking Central | Big banks brush aside tech alerts until RBI cracks the whip
Banks need to scale up investment in strengthening the technology before launching products to ensure their platforms can handle volume without inconveniencing the customer. Repeated glitches will distance even the loyal customers from a bank and prompt them to look for better options
BUSINESS
Banking Central | What makes HC order on Lakshmi Vilas Bank-DBS India merger important?
The court has refused to intervene in the merger but has raised some important questions to the central bank on the issue of transparency in the whole process
BUSINESS
Madras HC refuses to interfere with LVB-DBS merger, directs RBI to decide afresh on Tier-II bond write off
A bench comprising Chief Justice Sanjay V. Gangapurwala and Justice D. Bharatha Chakravarthy ordered the central bank to complete the exercise within a period of four months, keeping in mind the grievances of the shareholders and bondholders
BUSINESS
Kotak Mahindra Bank CEO says in constant communication with RBI to address concerns
On April 24, the RBI imposed major business restrictions on the bank asking it not onboard new customers through digital channels and not issue fresh credit cards citing prolonged concerns realted to the bank's technology platforms.
BUSINESS
RBI crackdown on KMB poses first major challenge to Uday Kotak’s successor Ashok Vaswani
The central bank’s action will put the digital banking business on the backfoot for a while. Ban on adding new credit card customers will likely impact Kotak’s positioning amid tough competition
BUSINESS
RBI extends deputy governor T Rabi Sankar's term by a year
Sankar was the executive director of the RBI before he took over as the deputy governor
BUSINESS
RBI cracks down on Kotak Mahindra Bank; bars onboarding new customers through online, mobile banking and issuing new credit cards
During the investigations, the RBI found that the bank is materially deficient in building necessary operational resilience on account of its failure to build IT systems and controls commensurate with its growth.
BUSINESS
Banking Central | Is it right for banks to make you buy insurance cover tied to your loan?
This has been a longstanding practice in the industry. Forced selling of insurance policies at the time of a loan purchase isn’t fair business practice
BUSINESS
MC Interview | MPC should be wary of keeping rate so tight that it prevents revival of private capex: Jayanth Varma
Varma said the economy has been held up by government investment, and the ongoing process of fiscal consolidation is gradually withdrawing that stimulus
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
