Specialist in Indian Banking and Economic Research

Hemindra Hazari

IDBI Bank Limited provides a range of banking and financial services. The Bank's services include fund-based operations, such as venture capital and fee-based activities, which include merchant banking and debenture trusteeship.

<ul>
<li>Only very few senior executives have benefitted from privatisation of IDBI Bank</li>
<li>Hefty remueration increases given to CEO and two Deputy Managing Directors</li>
<li>Major improvement in the bank's performance on account of government led injection of equity and bank's share price has under-performed peers. </li>
</ul>


Only very few senior executives have benefitted from privatisation of IDBI Bank
Hefty remueration increases given to CEO and two Deputy Managing Directors
Major improvement in the bank's performance on account of government led injection of equity and bank's share price has under-performed peers. 


IDBI Bank’s Stakeholder Enrichment Programme Begins at the Top

IndusInd Bank Limited is a Mumbai-based Indian new generation bank established in 1994. The Bank provides a range of banking and financial services including  wholesale banking, credit monitoring, risk management, tele-banking, investment banking and commercial lending. IndusInd Bank operates branches throughout India as well as an office in Dubai and London.

<ul>
<li>Zubin Mody, Chief Human Resources Officer (CHRO) abruptly quits <a href="https://www.smartkarma.com/entities/indusind-bank-ltd" target="_blank" data-smartkarma-citation="entities:1558:1" rel="noopener">Indusind Bank (IIB IN)</a>
</li>
<li>His resignation adds to the leadership vacuum at the top as the bank has no CEO or any executive directors on the board</li>
<li>Apparently the board of directors wants to reboot the bank with a clean senior executive slate</li>
</ul>


Zubin Mody, Chief Human Resources Officer (CHRO) abruptly quits Indusind Bank (IIB IN)

His resignation adds to the leadership vacuum at the top as the bank has no CEO or any executive directors on the board
Apparently the board of directors wants to reboot the bank with a clean senior executive slate


Indian Banking’s Longest-Serving, Highest-Paid HR-Head Quits IndusInd Bank

Forensic Accounting

Crisil Ltd. operates a credit rating agency in India. The Company specializes in the areas of risk identification, classification and assessment, across a broad spectrum of industries.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/crisil-ltd" target="_blank" data-smartkarma-citation="entities:15699:1" rel="noopener">Crisil Ltd (CRISIL IN)</a> and India Rating Downgrade <a href="https://www.smartkarma.com/entities/ags-transact-technologies" target="_blank" data-smartkarma-citation="entities:23692:1" rel="noopener">AGS Transact Technologies (AGSTRA IN) </a>to 'D' from "A/Stable' post a default</li>
<li>Rating agencies exist to anticipate events such as defaults and not react after being informed of a default</li>
<li>Rating agencies ignored poor fundamentals of <a href="https://www.smartkarma.com/entities/ags-transact-technologies" target="_blank" data-smartkarma-citation="entities:23692:1" rel="noopener">AGS Transact Technologies (AGSTRA IN)</a> in 2QFY2025 results which clearly and publicly revealed deteriorating cash flows and a high-risk financial strategy</li>
</ul>



Crisil Ltd (CRISIL IN) and India Rating Downgrade AGS Transact Technologies (AGSTRA IN) to 'D' from "A/Stable' post a default
Rating agencies exist to anticipate events such as defaults and not react after being informed of a default
Rating agencies ignored poor fundamentals of AGS Transact Technologies (AGSTRA IN) in 2QFY2025 results which clearly and publicly revealed deteriorating cash flows and a high-risk financial strategy


Ever-Vigilant CRISIL, India Rating Downgrade Firm – After Default

Equity Bottom-Up

Axis Bank Limited provides a full range of banking services throughout India. The Group's activities include retail banking, investment management, merchant banking, treasury and NRI services, cash and credit management services, and ATM facilities.

<ul>
<li>2 Heads of Audit in 1 month with another replacement within 6 months</li>
<li>Audit head in a bank is a highly sensitive post and the banking regulator recommends a minimum tenure of 3 years for the post</li>
<li>Internal audit in Axis Bank has become a major concern which should worry investors</li>
</ul>


2 Heads of Audit in 1 month with another replacement within 6 months
Audit head in a bank is a highly sensitive post and the banking regulator recommends a minimum tenure of 3 years for the post
Internal audit in Axis Bank has become a major concern which should worry investors


Farcical Saga of Axis Bank’s Chief Audit Executives

YES BANK Limited provides banking services. The Bank offers deposits, personal loans, e-banking, trade finance, corporate, and business banking services. YES BANK serves the food and agribusiness, life sciences, healthcare, biotechnology, telecommunications, media, information technology, and infrastructure development industries in India.

<ul>
<li>Reconstructed board of Yes Bank implemented an ill-conceived, poorly executed retail strategy to revive the bank</li>
<li>Structural problem of low net interest margin and high overheads not resolved</li>
<li>Retail assets strategy characterised by low yield, high operating cost and rising credit cost which the bank has finally acknowledged</li>
</ul>


Reconstructed board of Yes Bank implemented an ill-conceived, poorly executed retail strategy to revive the bank
Structural problem of low net interest margin and high overheads not resolved
Retail assets strategy characterised by low yield, high operating cost and rising credit cost which the bank has finally acknowledged


Yes Bank’s Retail Therapy Proves Expensive

Is a Securities & Exchange Board of India (SEBI) registered research analyst with over 25 years experience in the Indian capital markets with a specialization in banking and economy research and has managerial experience of establishing profitable equities business, leading and mentoring analysts.  He has worked with prominent foreign and domestic capital market firms such as UBS, Societe Generale, HSBC, ASK Raymond James  and Karvy Stock  Broking and is a regular guest on business media channels and is respected for his non-consensus view on stocks and the market.

Hemindra Hazari
Specialist in Indian Banking and Economic Research

IDBI Bank’s Stakeholder Enrichment Programme Begins at the Top

Privatisation of IDBI Bank has only benefited the CEO and his 2 deputies. Despite government-led equity injections, which led to the turnaround...

Hemindra Hazari

Indian Banking’s Longest-Serving, Highest-Paid HR-Head Quits IndusInd Bank

Indusnd Bank's CHRO exit adds to the leadership vacuum in the bank and though it demonstrates a clean senior executive slate it heightens concerns...

Hemindra Hazari

Ever-Vigilant CRISIL, India Rating Downgrade Firm – After Default

Crisil Ltd downgrades AGS Transact Technologies to 'D' from 'A/Stable' post default, highlighting rating agencies' failure to anticipate poor...

Hemindra Hazari

Farcical Saga of Axis Bank’s Chief Audit Executives

The abrupt departure of two Audit Heads in quick succession raise serious concerns regarding the stability of internal audit and the extent of...

Hemindra Hazari

Yes Bank’s Retail Therapy Proves Expensive

Yes Bank's implemented an ill-conceived, poorly executed retail strategy to revive the bank and the asset strategy is facing challenges of low...

Hemindra Hazari

IDBI Bank’s Stakeholder Enrichment Programme Begins at the Top

​Privatisation of IDBI Bank has only benefited the CEO and his 2 deputies. Despite government-led equity injections, which led to the turnaround...

Hemindra Hazari

Indian Banking’s Longest-Serving, Highest-Paid HR-Head Quits IndusInd Bank

Indusnd Bank's CHRO exit adds to the leadership vacuum in the bank and though it demonstrates a clean senior executive slate it heightens concerns...

Hemindra Hazari

Ever-Vigilant CRISIL, India Rating Downgrade Firm – After Default

​Crisil Ltd downgrades AGS Transact Technologies to 'D' from 'A/Stable' post default, highlighting rating agencies' failure to anticipate poor...

Hemindra Hazari

Farcical Saga of Axis Bank’s Chief Audit Executives

​The abrupt departure of two Audit Heads in quick succession raise serious concerns regarding the stability of internal audit and the extent of...

Hemindra Hazari

Yes Bank’s Retail Therapy Proves Expensive

​Yes Bank's implemented an ill-conceived, poorly executed retail strategy to revive the bank and the asset strategy is facing challenges of low...

Hemindra Hazari

Privatisation of IDBI Bank has only benefited the CEO and his 2 deputies. Despite government-led equity injections, which led to the turnaround...

Crisil Ltd downgrades AGS Transact Technologies to 'D' from 'A/Stable' post default, highlighting rating agencies' failure to anticipate poor...

The abrupt departure of two Audit Heads in quick succession raise serious concerns regarding the stability of internal audit and the extent of...

Yes Bank's implemented an ill-conceived, poorly executed retail strategy to revive the bank and the asset strategy is facing challenges of low...