Indusind bank denies evergreening but accepts technical glitch in loan disbursals

In an Economic Times report of November 5, there were some corporate governance issues at Indusind’s microfinance subsidiary Bharat Financial Inclusion (BFI). Indusind had acquired BFI (erswhile SKS Microfinance) in March 2019. As per the subject report – Between October 17 and 24, several senior employees of BFI had written to the Reserve Bank of … Read more

Britannia rumoured to be creating a new senior management position

As per news reports, Britannia is in the process of creating a new position of CEO who will report to the MD, Varun Berry. Mandate is already supposed to have been given to the head hunters to look for a suitable candidate. The step definitely seems to be targeted towards smoother succession of Varun Berry … Read more

Govt provides much needed ‘immediate’ relief to the telecom sector

Cash strapped Indian telecom sector was looking at the govt for long and govt abides… The much anticipated reforms are announced. Broadly they provide deferment of the immediate regulatory payments and a cleaner future process to operate. Key points – 4 year moratorium on all spectrum and Adjusted Gross Revenue (AGR) dues. However, interest would … Read more