“Hemindra Kishen Hazari” has been highlighting such lapse of corporate governance across various banks in the past. He has timely highlighted certain issues related to IndusInd bank as well in the past and shareholders have seen massive correction in its stock price during COVID crisis.
This article has highlighted many governance issues and lazy approach by bank management in addressing IT risks and probably there are few other undocumented issues.
Concerns mentioned in the article are genuine. With due respect to the Kotak Bank management, the observations are quite serious. Overall handling of IT systems and Kotak 811 App seems below my expectations.
Having worked in IT industry for over 25 years, and Cyber Security for over 5 years, the issues highlighted in the article look serious to me.
Disc: Holding Kotak Bank from the past 2 years and it seems that, Market has de-rated the stock from P/B of 5 to 2.5-2.8 with logical reasons. Need to be watchful about future events.
Subscribe To Our Free Newsletter |