How opaque portfolios, misuse of mandate and misrepresentation, shortchanged investors of Fixed Maturity Plans and created a crisis. Sucheta Dalal explains

 

When the whirlwind of global financial turmoil hit the Indian shores in late September, it wasn’t Indian banks that were rocked. Barring, of course, ICICI Bank which became the target of speculative short-selling. None of the...

For the past two months, the global economy has been badly shaken up by the failure of some of the world’s largest banks and financial companies. The US and some European countries have officially acknowledged to be in a state of recession. The US government has allocated a huge US$800 billion to bail out its failed financial institutions and this may increase to US$2 trillion in the coming...