Public sector commercial banks
with low owned-equity have shown better financial results during
the last decade compared with those with higher owned-equity,
according to a study by the Institute of Cost & Works Accountants
of India. Owned equity denotes capital plus reserves.
The Reserve Bank of India has
reportedly found gross irregularities in the accounts of the
Chennai-based Fidelity Finance, a non-banking finance company
promoted by the TVS group.
