R3 began as a blockchain consortium but went on to become a software company.
Dear Balbir Singh Sooch,
Frameworks for redress in India are notorious for delays, most often owing to a backlog of cases or lack of clarity on regulations, resulting in added costs or dilution in the value of compensation and relief. The problem has been aggravated by the viral outbreak and lockdowns. Today’s lead story is the tale of one such instance.
CORPORATE GOVERNANCE  
How an insolvency regulation has become a burden
One of the first major Covid-19 relief measures announced for stressed companies has turned into a nightmare for some stakeholders. Over four months into the pandemic, the insolvency ecosystem is still struggling with the ambiguities in the notification that increased the default trigger to INR1 crore from INR1 lakh earlier. An ordinance that came two months later has not put the matter to rest. As debtors and creditors play a cat-and-mouse game, confusion prevails.
TECH
'Tokenisation of real-world assets is inevitable'
R3 began as a blockchain consortium but went on to become a software company. It believes that to work with the formal banking system, it had to take this approach. In India, Federal Bank is the first bank to implement R3’s software globally. Richard G Brown, CTO at R3, talked to ET Prime on the evolution of the company and a variety of allied topics.
ECONOMY
Sashidhar Jagdishan’s rise at HDFC Bank
Sashidhar Jagdishan, who has been appointed CEO of HDFC Bank, was part of the bank’s inner circle of top executives responsible for an industry-beating 25% quarterly growth in net profits over the years. He has big shoes to fill and a tough task at hand. While familiarity with the bank’s working is an advantage for Jagdishan, he needs to make governance and digital initiatives as his topmost priorities.
Regards,
ET Prime Team