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.
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.
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. Evaluat...