Vishwanath Nair

Mumbai

Banking Editor at BQ Prime

Banking Editor @ndtvprofitindia Always looking for exciting stories to be told, at work or otherwise. Previous: @livemint and @FinancialXpress

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Articles

IndusInd Bank Sees New Accounting Issue Emerge In Microfinance Business

2 days ago | ndtvprofit.com | Vishwanath Nair

Private sector lender IndusInd Bank Ltd. on Monday disclosed that it has detected "certain concerns" in its microfinance portfolio and that an internal audit is underway. "As a part of the process of finalization of accounts, the Bank’s Internal Audit Department (IAD) is conducting a review of the Bank’s MFI business, to examine certain concerns which have been brought to the Bank’s attention," IndusInd Bank told exchanges.
In This Economy… Trust In Banks, But Verify The Liquidity

2 days ago | ndtvprofit.com | Vishwanath Nair

Happy Tuesday! This week India is busy hosting US Vice President JD Vance and his family. On the day of his visit, India’s competition commission was quick to settle Google’s Android TV case for Rs 20 crore. This case has been going on since 2021 and is now the first one to be settled under the amended Competition Act where settlement and commitment provisions were added in 2023.The timing could not have been better, as India also si...
Trump Tariffs To Hurt India GDP By Only 25-30 Bps, Says Keki Mistry | Profit Exclusive

2 weeks ago | ndtvprofit.com | Vishwanath Nair

India's gross domestic product may see a net impact of around 25-30 basis points, due to the reciprocal tariffs announced by the United State of America, says Keki Mistry, former vice chairman and CEO of the erstwhile Housing Development & Finance Corporation. Mistry is also presently on the board of HDFC Bank. In an interview with NDTV Profit, Mistry said that the tariffs themselves might result in a 40 basis points hit to GDP. But ...
Trump Tariffs Rattle Markets, RBI Policy in Focus Ahead of Rate Decision

2 weeks ago | ndtvprofit.com | Vishwanath Nair

Happy Tuesday! This past week has been tumultuous for the world and India alike. Markets around the globe and locally plummeted as Donald Trump dug his heels in on the “reciprocal” tariffs he announced last week. Overnight, the US markets briefly felt some buoyancy as rumours of a 90-day pause on the tariffs started to float on the social media platform X (formerly Twitter). The White House was quick to call it “fake news, which...
Lodha Vs Lodha: New Front Opens Up In War Between Builder Brothers

3 weeks ago | ndtvprofit.com | Vishwanath Nair

A new war front has opened up between Abhishek Lodha's Macrotech Developers and his brother's House Of Abhinandan Lodha. In an exchange notification, Macrotech Developers has alleged that House of Abhinandan Lodha has engaged in fraud and forgery. The latter has denied these allegations in a statement of its own. The allegations range from forging board resolutions of Macrotech Developers, signature of one of its independent directors, along with the picture on his PAN card.
Centre Appoints Poonam Gupta As RBI Deputy Governor

3 weeks ago | ndtvprofit.com | Vishwanath Nair

The Government of India has appointed Poonam Gupta as a deputy governor of the Reserve Bank of India for a period of three years. In an official letter the government said that the Appointments Committee of the Cabinet cleared Gupta's appointment. NDTV Profit has reviewed a copy of the letter. An official joining date is yet to be announced. The government had been looking for a suitable replacement for Michael D Patra, who retired as RBI deputy governor in January.
In This Economy… Banking On Accountability

1 month ago | ndtvprofit.com | Vishwanath Nair

Happy Tuesday! This week has been filled with developments across the board. The equity markets are having a rollicking time with the foreign institutions making a comeback; preferred private banks are pulling the Bank Nifty to new highs; the rupee managed to wipe out its losses for the year with a eight-day winning streak against the dollar; and the RBI made some crucial changes to the priority sector lending guidelines.However, the...
IndusInd Bank Board To Come Up With CEO Replacement In Six Months, Sources Say

1 month ago | ndtvprofit.com | Vishwanath Nair

Private sector lender IndusInd Bank's board will need to come up with replacements for Chief Executive Officer Sumant Kathpalia by October, according to two people familiar with the matter. The RBI is awaiting an accountability exercise to be completed before taking action, the people told NDTV Profit on the condition of anonymity.
Vodafone Idea Asks Government To Convert More Dues To Equity-NDTV Profit Exclusive

1 month ago | ndtvprofit.com | Vishwanath Nair

Telecom service provider Vodafone Idea is seeking further support from the government, as it is finding it challenging to repay adjusted gross revenue or AGR and spectrum dues. A letter addressed to telecom secretary Neeraj Mittal was sent on March 11, where Vodafone Idea has requested government to convert more of its dues into equity.
IndusInd Bank Appoints Independent Firm To Probe Derivative Portfolio Discrepancies

1 month ago | ndtvprofit.com | Vishwanath Nair

IndusInd Bank Ltd. said on Thursday that it's board has appointed an independent professional firm to investigate discrepancies in its derivative portfolio. In a statement to the exchanges late evening, the lender said that this independent firm will conduct a comprehensive investigation to identify the root cause of the recently disclosed accounting discrepancies.