How do white collar criminals evade justice?

In recent times, several cases of bank loan frauds have flooded the headlines. In nearly every major scams, it can be noted that the accused have always evaded justice – making the system or law that holds such rule breakers accountable – appear weak. Continue Reading

RBI keeps interest rate unchanged, pegs growth at 6%

The Reserve Bank of India today opted for a status quo on benchmark interest rate after the Union Budget for 2020-21 slipped on fiscal deficit target and there were signs of hardening inflation amid an uncertain global environment. Continue Reading

Year in review of Shaktikanta Das-led RBI

When the Narendra Modi government, stumped by the sudden resignation of Urjit Patel, parachuted retired bureaucrat Shaktikanta Das to RBI in December 2018, many expected a great lull in the public acrimony that marred the days of his academically more illustrious predecessors Patel and Raghuram Rajan. Continue Reading

RBI: Multiple regulators with different priorities problem for corp bond market

Presence of multiple regulators with disparate priorities is ‘hindering’ the growth of the all important corporate bond market (CBM) in India, a senior RBI official said. The need for a robust bond market has increased, thanks to the stressed balance-sheets of banks, M Rajeshwar Rao, an executive director at the central bank, said. Continue Reading

RTI: Over 3,400 branches of 26 PSBs closed or merged in last 5 years

Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query. Of this, 75 per cent of the affected branches belong to the country’s biggest lender State Bank of India (SBI). Continue Reading

Bank of Maharashtra files complaint against rumours

Bank of Maharashtra said it has lodged a complaint with Pune police and cyber cell against the circulation of fake news and spreading of rumours about its financial health on WhatsApp, a news site and other social media platforms. This complaint is filed against maligning the image of the bank in various social media platforms, it said in a BSE filing. Continue Reading

Ashok Kapur family backs Yes Bank’s new management

Extending full support to the new management, Yes Bank’s single-largest shareholder and co-promoter, the late Ashok Kapur’s daughter Shagun Gogia said the issues of governance and transparency are fully dealt with now. Gogia, who was recently inducted to the board of the troubled private sector lender, also said her family was fine with lowering their shareholding below the present 8.33 per cent in case a big investor comes on board at the end of the ongoing capital-raising exercise. Continue Reading