The CEO of ICICI Bank has seen several ups and downs in her 25-year career. But the allegations of conflict of interest could be her toughest challenge yet.
India cannot be blasé about change in any important capital in the world. Let's look at five key areas where US policy matters for India and how it may vary between Harris and Trump.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Troops patrolled up to Patrolling Point (PP) 10 on Monday. Though there are PP 10, 11, 12, 12A & 13 in Depsang Plains, it was decided that only one or two PPs would be patrolled.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
Normally political parties are using every development to score points against each other, why this deafening silence from ruling party and opposition? What does it tell you about the people involved? Govt which cannot do one thing on time has gone and given clean chit in no time – why? Board with two government representatives would not have given clean chit without govt blessings, so board’s view should be seen as govt view. If you are sufficient high in the food chain, you can buy patronage using other people’s money with little accountability. When you have patrons on both sides, there’s deafening silence!
The issue is not about Ms Kochhar’s competence, or her contribution to the growth of the institution. She deserves to be where she is. At some stage, in an out of the box situation, she could have been tapped by the government to head the RBI. However, the financial arrangement her husband entered into with the Dhoot family, to whose group the bank has a large exposure, now gone bad, seems to have conflict of interest written all over it. A leading industrialist would not personally partner with a start up, however promising, and then hand over the entire entity. There are legitimate questions that will need to be answered.
This controversy is best analysed through Cordelia Fine’s recent book ‘Testosterone Rex’ in which she argues against the prevalent perception that women make cautious and more responsible bankers. Fine states “The ubiquitous image of the cautious female banker, carefully handling capital as though it were a newborn baby, is more figment than fact” and that putting women in senior banking positions are NOT the most effective way to decrease instances of irresponsible banking and financial transactions, summing it up in strong words “The best antidote for bankers selling junk products isn’t women; it’s a dismissal slip.”
Normally political parties are using every development to score points against each other, why this deafening silence from ruling party and opposition? What does it tell you about the people involved? Govt which cannot do one thing on time has gone and given clean chit in no time – why? Board with two government representatives would not have given clean chit without govt blessings, so board’s view should be seen as govt view. If you are sufficient high in the food chain, you can buy patronage using other people’s money with little accountability. When you have patrons on both sides, there’s deafening silence!
no objectivity.
A FAWNING BIOGRAPHY
The issue is not about Ms Kochhar’s competence, or her contribution to the growth of the institution. She deserves to be where she is. At some stage, in an out of the box situation, she could have been tapped by the government to head the RBI. However, the financial arrangement her husband entered into with the Dhoot family, to whose group the bank has a large exposure, now gone bad, seems to have conflict of interest written all over it. A leading industrialist would not personally partner with a start up, however promising, and then hand over the entire entity. There are legitimate questions that will need to be answered.
This controversy is best analysed through Cordelia Fine’s recent book ‘Testosterone Rex’ in which she argues against the prevalent perception that women make cautious and more responsible bankers. Fine states “The ubiquitous image of the cautious female banker, carefully handling capital as though it were a newborn baby, is more figment than fact” and that putting women in senior banking positions are NOT the most effective way to decrease instances of irresponsible banking and financial transactions, summing it up in strong words “The best antidote for bankers selling junk products isn’t women; it’s a dismissal slip.”