Narayan Murthy must demand demand accountability from Vikram Akula
Malini Byanna, former wife of Vikram Akula, founder of SKS Microfinance, is very scared. She feels she is under constant surveillance in India. On Sunday, she promised to give DNA an interview, but kept the venue a secret till the last minute. Every precaution was taken to ensure that there was no one tailing. DNA was told it would happen in a hotel, but the exact location was not revealed to him till the last minute. He was asked to come to a particular locality in Hyderabad.
Finally, Malini met us in a small room in a hotel on Sunday afternoon. “I am being tracked. I am staying with a politician known to us, which is giving me some relief. Otherwise, I am really scared to come out,” she said. Read the complete interview on DNA
Rajan makes a case for small banks
Says well-managed NBFCs, MFIs should be allowed to set up banks; worried about entry of large industrial houses
The honorary economic adviser to Prime Minister Manmohan Singh, Raghuram Rajan, is against industrial houses being allowed to run banks as the central bank is engaged in the process of drawing up the guidelines for allowing more entrants into the industry. Read more Mint
Corporate Governance : Do boards really matter?
It is a universally acknowledged fact that successful companies are always in need of well-defined boards to manage, direct and control the conduct and operations of companies. If this statement, which at first glance reads like the opening sentence of Jane Austen’s Pride and Prejudice, is true then the answer to the question in the title of this article should be a resounding yes. It should follow that it is necessary to increase the effectiveness of the boards and for the companies to follow rigorous governance standards. In order to do this:
- The roles and responsibilities of the directors need to be clearly defined and documented, and importance must be accorded to issues like leadership development, succession planning, setting CEO objectives and so on. Read more on SIFY