As the chairperson of SKS Trust, the largest shareholder in SKS Microfinance, Biksham Gujja created a stir by announcing they wanted to nominate Vikram Akula, the ousted boss who had founded the company the latter founded, as its representative on the board.
In a major management change at the top, SKS Microfinance on terminated the services of Suresh Gurumani as CEO, triggering a six per cent fall in the company's stocks.
Trust explores options on reinduction of ousted founder on board as firm closes ranks.
The company has appointed P H Ravi Kumar, independent director, as the interim non-executive chairman.
Biksham Gujja contributed to major global initiatives such as the World Commission on Dams, World Water Commission and World Water Forum.
The board has decided to expand into all financial services for the rural population. SKS would, however, continue to be a strong player in the microfinance business. Financial inclusion would continue to be in the centre of our activities.
Gurumani have been roundly criticised for booking eye-popping profits on share sales of exercised options.
After raising Rs 1,600 crore through an initial public offer in August, the Hyderabad-based company on October 4 terminated the services of Gurumani four years ahead of the expiry of contract and named M R Rao as his successor. Gurumani had a five-year contract starting from April 1, 2009.
Health issues, divorce, court battles, moral turpitude, and more can all distract the CEO and impinge on a company's performance. So, how much of their private life should a company disclose? asks Amit Tandon.
It might be difficult to repeat the SKS success with VAYA Finserv, say analysts
Stung by the controversy over the sudden sacking of the Managing Director at India's largest microfinance institution, SKS Microfinance, lenders have decided to raise corporate governance issues at board meetings of other MFIs.
Esops are considered perquisites from a taxation perspective. If you are employed with the company at the time of exercising, then the perquisite amount would be added to your salary and subject to tax deducted at source as per the slab rate applicable.
For India's leading MFI-turned bank, the challenge is to stay competitive while pricing its loans
The KAS Foundation is touching the lives of 700,000 people.
Ashok Leyland, ITD Cementation India have more than doubled.
'An entrepreneur should always remain under pressure or he will die,' Vineet Rai tells Anjuli Bhargava.
The progress of the GST Bill in Parliament is also likely to remain in focus
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Reliance, Birla Group, Airtel eye small finance banks.
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Vastu Housing Finance is trying to leverage technology to distinguish itself in a crowded space.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
Murthy no more chairman emeritus; founders do not want to be addressed as promoters.
The broader markets were marginally higher with mid-caps and small-caps gaining 0.1-0.4 per cent on the BSE.
FIIs pump in Rs 2,075 crore in past three trading sessions.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
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