SBI’s shares surged to a six-week high after it reported a record loss on Tuesday, after a similar contrarian market reaction by ICICI Bank Ltd. and Axis Bank Ltd. reported poorer-than-expected earnings.
Chanda Kochhar showed a lack of judgment in not recusing herself from the committee that cleared the loan to Videocon. ICICI, with a history of prior bank runs, can't afford a leader who's in the news for all the wrong reasons.
After the PNB-Nirav Modi scandal, there was an outburst of commentary calling for privatisation of public sector banks. It is far more complicated than that.
The Modi govt first put all its eggs into the US basket when the unipolar moment was clearly over. It subsequently overcorrected, accommodating an aggressive China.
In the latest budget, the FDI limit was increased to 100 percent, but most foreign companies are not buying such large stakes in the Indian insurance sector.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
Barring the IT industry, business and government have always been in bed with each other. Some thought of managing the environment as a painful necessity, for others is was the escalator that was faster than the stairs. What is causing surprise now is that even in professionally, ie non promoter driven, managed companies like ICICI Bank, standards have fallen. One would like to believe that probity is still the norm in what were earlier called the FERA companies.
Barring the IT industry, business and government have always been in bed with each other. Some thought of managing the environment as a painful necessity, for others is was the escalator that was faster than the stairs. What is causing surprise now is that even in professionally, ie non promoter driven, managed companies like ICICI Bank, standards have fallen. One would like to believe that probity is still the norm in what were earlier called the FERA companies.