The horror story of an HSBC customer. But it can happen to others too
I recently read the book If God Was A Banker by Ravi Subramanian which had been released with much fanfare by HSBC’s country-head Naina Lal Kidwai. While the book claims to be a piece of fiction, there are enough of recognisable characters and events (despite the attempt to obfuscate identities and time lines). One...
Funds are sending investors their money by cheques and enjoying the float
Last week, I received this e-mail from R Ashar of Dubai. The message included a copy of an e-mail sent to M Damodaran, chairman of the Securities and Exchange Board of India (SEBI) complaining that asset management companies (AMCs) of mutual funds are indulging in unfair practices to profit at the cost of their...
Beware of new gimmicks and invitations that hit your mailbox
This happened to one of India's top columnists last week. He comes from an illustrious lineage; his family was reputed to “own half of Delhi” and he has had close personal contacts with the ruling elite in every government since Independence. The background is important in the context of this email that I received, ostensibly...
