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Dhanalaxmi bank
Dhanvarsha Group Makes Hostile Bid Of Rs 300 Cr For Dhanlaxmi Bank
Thrissur based Dhanlaxmi Bank has always been in the news for the wrong reasons — labour/union strife, mis-management and hostile takeovers.  The Delhi-based diversified group, Dhanvarsha Group, has made an Rs 300 crore unsolicited bid. The group has offered Rs 11.85 per share as against the market price of Rs 12.45. The bank is not new to takeover bids. ICICI Bank, Kotak Mahindra Bank, Axis Bank and HDFC Bank have all eyed Dhanlaxmi Bank but seem to have faltered at the altar. The first hostile bid was made during its public issue in 1996. Ind Global and the Concept group, both involved in the public issue, intended to acquire controlling stake of the bank. This failed once the media got wind of their interest. To tied-over its problems, the then promoter, R Kalyanaraman (Goodnight Mohan) brought in the Bangalore-based Raja Mohan Rao, who owned JT Mobile. Rao also entered through the back door when the bank’s 2002 public issue bombed. Rao then picked up 37 % stake for Rs 20 crore thereby making him the single largest shareholder ever. By then the RBI changed the rules of the game. No private entity could hold more than 40% in a bank and the voting right for each individual/company was restricted to 10% only. The bank, started in 1927, has Kerala’s two top businessmen, Yusuf Ali (4.9 %) and Ravi Pillai (4.4%) as shareholders.
citibank_Axis bank
Citi Puts Consumer Banking Business To Sleep, Hiving Off Retail Arm To Axis Bank For Keeps
The Citi never sleeps. Citibank literally rode on this famous tag line for an increased mind share even as India was only just opening up to the world in the early 90s. The MNC bank left no stone unturned embarking on its aggressive business expansion. Somewhere along the line, however, the aggressive instinct for growth turned ugly and, Citibank went about issuing credit cards without any let or hindrance, to onboard lakhs of customers. Citibank had indeed re-laid the retail thrust in the Indian banking industry. Many in Indian industry did follow the Citi line but, somewhere along the way, Citi went overboard as an incident in the early 90s hit national headlines. In its zest to recover dues, its agents waylaid a top bureaucrat in the Central government on the Bombay-Pune Highway in a case of mistaken identity. The script went horribly wrong and Citi should have realised the `retail difficulty’ in India. It did slug it out for several seasons thereafter. Though it launched credit cards in India in 1987, Citi’s market share has slumped to 4% from 13% just a decade and, it has decided to sell its retail business to Axis Bank. After 119 years in India, Citi is restructuring and exiting the consumer banking business. Over the last few years was Citi out of sync in India?

TRENDS & VIEWS

Editor’s Note: Short Post Noticed By People Who Matter

Four years have zipped by and we are crossing another milestone on 31st January 2025 – it’s our 4th Anniversary. It feels good.
Looking back at the 1460 days, I must say Short Post has made its mark with people who matter via 4000 stories published in the areas of politics, business, entertainment and sports. All made possible by the unflinching commitment and dedication of our senior editors, most of whom have been part of this journey from Day One.
Small pack, big impact is in essence the story of Short Post which was launched at the height of the Covid-19 pandemic in 2021. It shows our conviction. In all humility, I can say, we have created a new niche in the news segment space like Hindustan Unilever which created a new segment, when it launched CloseUp Gel.
Yes, we have created a brand (in a limited sense), created demand (readers) and created supply (senior journalists). But we are facing teething problems like all start-ups. What makes us happy and confident is the recognition of our efforts. For instance, we have an arrangement with the OPEN Magazine, part of the $4.5 billion Kolkata-based Sanjiv Goenka-RPG Group. This arrangement sees around 10 Short Post stories posted on OPEN Magazine website every week. This arrangement is testimony that our content has been well received! Also, I may add that the Maharashtra government has recognised Short Post and has allowed our senior editor to cover the Assembly sessions. Ditto: Odisha.
Our goal is to ensure that Short Post becomes a habit. I would like people to keep checking their smartphones to know the latest Authentic Gossip. As regards AI and the fear of it disrupting all businesses including media. On that, personally, I have no such fear as I am confident AI cannot smell news particularly Authentic Gossip. That’s the place we are well entrenched.