#barodas

#GuptaLeaks: How Bank of Baroda’s misadventures dragged it into SA’s political crisis

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This article was first published in the Hindustan Times.

In June 2017, an anodyne footnote to the Bank of Baroda’s (BoB) quarterly results mentioned a fine levied by the South African Reserve Bank (SARB), headquartered in Pretoria.

The sum — Rs 5.45 crore (R11 million) — was insignificant for an institution the size of BoB. No further details were given; the penalty passed unnoticed in…