That there are only two defaults on CRISIL’s long-term credit ratings (both manufacturing entities) in the first six months of 2008-09 probably paints too optimistic a picture. The finance minister admitted that forex derivative losses were a massive Rs27,300 crore but pose no systemic risk. But is this the full extent of losses or are companies still hiding their loans to promoters’ private...
ICICI Bank’s recent dilemma should provide food for thought to every bank or institution that adopts an aggressive growth strategy. Clearly, the Bank had done a lot that is right to power its way to become the second largest bank in the country. It has also spawned several institutions, which have gained critical mass in areas such as insurance, stock broking and venture finance. Yet, the...
The rush for currency bourses is taking a ridiculous turn. Three bourses were launched in a month and three more are in the pipeline – the National Multi Commodity Exchange (controlled by Anil Ambani), the Bangalore Stock Exchange and a consortium of banks, led by Federal Bank.
P Ravikumar, former CEO of the National Commodity Derivatives Exchange, now a director at Federal Bank, is...
