Punjab National Banks (PNB) valentine day disclosures about diamonds turning to coal, is yet another wake-up call that the state-owned banks need a cure. What remains unsettled is what ails these banks. And till this question is resolved, there can be no repair. There are worrying signs that the debate is being misdirected by focusing on the wrong issues. For example, that because this happened in a government-owned bank, there has been no run on the bank or the banking syste

After years of the tail wagging the dog, we are seeing signs of the dog wagging its tail. Put differently, after a few years of seeing royalty payments outpace sales and profits, performance of MNCs is catching up with their royalty pay-outs. Multi-national corporations (MNCs) based in India benefit from having a globally-recognized brand and access to technology. That the NIFTY MNC index has tended to outperform most others, shows that investors value the benefits of having

This is the third study on Board Evaluation Disclosures and Practices in India, which has been jointly undertaken by NSE and IiAS (along with IiAS Research Foundation) and covers the 2016-17 annual report disclosures. A lot has changed over the past three years. Evaluation of the performance of individual directors, and the effectiveness of the board and its committees, has required a shift in the mindset of existing companies and their boards. The process itself has establis