By Kevin Allison and Daniel Indiviglio
The authors are Breakingviews columnists. The views they express are their own.
--Guy Walsh is Regional Director at ABN AMRO Commercial Finance PLC. The opinion expressed are his own.--
--Ian Bright is Senior Economist at ING. The opinions expressed are his own.--
When Dustin Hoffman was first starting out as an actor, struggling to make ends meet, he managed his money in a simple – but potentially financially dangerous – way.
Kolkata-based Bandhan Financial was little known in India’s corporate arena. But a new banking licence from the Reserve Bank has given Managing Director Chandra Shekhar Ghosh and his 13,000 employees a reason to cheer.
Srinivas Porika tried for months to get a loan of 250,000 rupees ($4,000) to pay for his sister’s wedding, but every bank he tried turned him down. The problem: Porika’s employer, a tech start-up company, was not on the banks’ lists of pre-approved companies.
I have a dream: a world without debt, and with much more equity. It’s not just that summer holidays are a good time for fantasising. The fifth anniversary of Lehman Brothers’ bankruptcy is a month away, and regulators have recently forced both Deutsche Bank and Barclays to issue more shares.