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For instance this article is so full of contradictions it'll make your head hurt.

Sebi has estimated the total exposure of lenders to Karvy at ₹2,800 crore, of which Bajaj Finance has an exposure of ₹345 crore as per a copy of the petition reviewed by Mint.
Karvy took loans to the tune of ₹600 crore by pledging securities worth more than ₹2,300 crore of 95,000 clients with lenders.
How is the exposure 2.8k when the loans are 0.6k? Also, that's a severe haircut (0.6k/2.3k ~ 75% haircut) - Bajaj Finance must've known something's up - probably why they're so eager to enter the brokerage business themselves :p

The petition also says Karvy had given a false undertaking to Bajaj Finance that these securities belonged to the brokerage.
A 345 cr disbursal based on an undertaking perhaps without a cursory check of the applicant's balance sheet! That would be a new record level of retardation.
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This doesn't seem that irrational a decision. A 321 crore international horse fair in the middle of nowhere does seem fanciful. Perhaps money better spent on an irrigation project or schools/teachers.

Too lazy to look it up - anyone know who won this constituency (in which Nandurbar is situated) in the recent election?
Nandurbar MLA was State Minister for Medical Education and Horticulture in last govt BJP's Gavit.


Well-Unknown Member
Alright, we hear a lot about Farm loan waiver here and there...

The minister also informed the House that PSBs wrote off Rs 47,658 crore, Rs 56,847 crore, Rs 79,048 crore, Rs 1,24,275 crore and Rs 1,86,632 crore during financial years 2014-15, 2015-16, 2016-17, 2017-18 and 2018-19, respectively, according to the RBI data.

Of these, write-offs in loans pertaining to 'agriculture and allied activities' were Rs 2,833 crore, Rs 6,361 crore, Rs 7,091 crore, Rs 10,345 crore and Rs 12,556 crore in those financial years respectively.

so farm loan waiver is just 6-8% of total write-offs. rest major chunk is corporate loans!!


Well-Unknown Member
You'd think that would be relevant information to include in the article. At least at the end as statement of fact (obviously without the family business bit). Without that little tidbit it seems so ridiculous that this was even ever considered.
com'on it would be funny if we happen to say same thing about Gandhis or other congressi's

beside, Gavit came from NCP recently.


excerpt from news article (sept, 2014)

Former Maharashtra Medical Education Minister Vijaykumar Gavit, who faces charges of wealth accumulation by him and his family members in a disproportionate assets case, joined the BJP in Mumbai today.


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CSB Bank IPO: Will it be a bumper listing on December 4?

CSB with its stable and granular deposit base has professional and experienced management with strong and independent Board which infuse optimism in future prospects of bank, Astha Jain said.

South-based private sector lender CSB Bank will make a debut on bourses December 4 after a massive subscription of 87 times.

The Rs 410-crore public issue saw strong subscription from all kinds of investors. The portion set aside for non-institutional investors was subscribed 164.68 times, qualified institutional buyers 62.18 times and retail investors at 44.53 times.

Overall, the issue had received bids worth Rs 19,586 crore.

As a result, most experts expect CSB Bank to list with a hefty premium of more than Rs 50 over its final issue price of Rs 195 per share, the higher end of the price band.

In fact, sources told Moneycontrol that the grey market premium is also around 60-65 per share.

"With an overwhelming response to CSB Bank IPO, we believe it would list around Rs 250+ levels, which translates to 28 percent premium over the upper end of the IPO price Rs 195. A premium listing seems to be justified, assuming turnaround in business efficiency which is expected to further improve going forward," Prashanth Tapse, AVP Research, Mehta Equities told Moneycontrol.

Astha Jain, Senior Research Analyst at Hem Securities and Rajesh Agarwal, Head of Research, AUM Capital also expect CSB to list with a premium of anywhere between Rs 55-65 over the final issue price of Rs 195 per share while Emkay Global Financial Services believes the stock should list between 15-20 percent premium.

CSB Bank is one of the oldest private sector banks in India with a history of over 98 years and has a strong base in Kerala along with a significant presence in Tamil Nadu, Karnataka, and Maharashtra.

"Although the bank has shown losses consecutively from FY17 to FY19, it has seen a turnaround at the bottomline level in the first half of FY20. Also, the bank has strong channel network and trusted brand in South India with a strong capital base after investment by Fairfax India through FIH Mauritius Investments Ltd (FIHM) in the bank in 2018," said Astha Jain.
In case of Interactive Brokers when I closed my trading and Demat account with them ,I got a confirmation from them in writing that trading and Demat both accounts are closed....other brokers dont close the accounts even on our specific closure requests.

Just curious to know.what was the reason to close the account with IB.

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