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.
The last time this matter flared up was when Delhi Chief Minister Rekha Gupta, in a very similar directive in April, called for the relocation of stray dogs in the capital.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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.”