A contingent liability is one, the occurrence of which is contingent on the occurrence or nonoccurrence of an event. Contingent liabilities, also known as Off-Balance Sheet (OBS) exposure of banks, are not shown in the main balance sheet in assets and liabilities, but in footnotes. The quantum...

The auditors play a significant role in promoting Corporate Governance System in a corporate entity. The auditors are appointed by shareholders at the general body meeting and their fee is also decided by the shareholders. Fee of auditors generally depends upon their reputation, market trends,...

The last financial crisis in 2007-08 resulted in a detailed review of components of regulatory capital as it was discovered that many of the capital elements of Basel II were not capable of meeting the losses suffered by the banks. This led to emergence of new capital framework for capital...

In September 2015, Reserve Bank of India (RBI) announced in principle approval to ten entities for setting up yet another category of differentiated banks, named as Small Finance Banks. Eight out of ten successful candidates are already working as Micro Financing Institutions (MFIs). The primary...

Business Schools (better known as B-Schools) in India are at the cusp survival crisis due to dwindling number of MBA aspirants, rising expectations of stakeholders and increasing complexities of regulatory and accreditation norms. These institutions are under tremendous pressure to augment their...

An independent director is a non-executive director who is devoid of any material conflict of interest with the company or its promoters. In the aftermath of various serious corporate frauds and incidents of mismanagement, investor confidence was badly hurt. To restore a degree of confidence in...