A Bank for the Buck: The Story of HDFC Bank
by Tamal Bandyopadhyay
THE NEW BANK MOVEMENT & the untold story of THE MAKING OF INDIA S MOST VALUED BANK This is the story of the birth and growth of India s most valued Bank HDFC Bank Ltd against the backdrop of the new bank movement in India that started in 1994 when the Reserve Bank of India opened up the sector to introduce competition and to force banks to be efficient and more productive. Many books have tried to give meaning to India s recent history, to put it in the larger context of a complicated and confounding society, but this effort stands out because it does something that has been difficult to attempt retelling the story of modern India through the lens of business. Given the author s familiarity with bankers, policy makers and central bankers, this fast-paced, jargon-free book, written for a wide audience, brings to life an engrossing and sweeping tale of 21st century India, with all its foibles and charms.
About The Author
Tamal Bandyopadhyay is an Indian business journalist, known for his weekly column on banking and finance Banker’s Trust published in Mint, an Indian business daily brought out by HT Media Ltd. He has authored three books namely Bandhan: The Making of a Bank, Sahara: The Untold Story and A Bank for the Buck. Releasing Tamal’s first book, A Bank for the Buck, in November 2012, then finance minister P Chidambaram said, “In a period of great financial illiteracy, it’s refreshing to have a book written by somebody very literate about matters relating to finance”. In his foreword to the book, former governor of Reserve Bank of India, YV Reddy, wrote, “It’s a sort of recent oral history of a financial institution. Tamal has set a new trend in the dissemination of knowledge.”
Tamal’s second book, Sahara: The Untold Story, details the beginnings and the current day working of the secretive Sahara India Parivar. Well researched, with umpteen interviews with people concerned including Subroto Roy, the book was also cause of a stay order later requested by the Sahara group.
In December 2013, the Sahara India Pariwar, moved Calcutta High Court, got a stay on the publication of the book and filed a Rs 2 billion defamation suit against the author and its publisher, Jaico Publishing House. In April 2014, both the parties reached an out of court settlement following which the book carries a disclaimer by Sahara which says, among other things, the book has “defamatory content” –something unprecedented in Indian publishing history, as narrated in Sue the Messenger by Subir Ghosh, with Paranjoy Guha Thakurta.
He has also published a book of poems in Bengali Anupam Meenrashi in January 2014.
Tamal Bandyopadhyay is also a contributor to The Oxford Companion to Economics in India, edited by Kaushik Basu.
In his foreword to his latest book, Bandhan: The Making of a Bank, Kaushik Basu, chief economist of the World Bank, has written, “Tamal Bandyopadhyay is a gifted story teller, who combines the sharp vision of a finance expert with the journalist’s skill for observation and narration.”