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51-544: Bharatiya Mahila Bank ( BMB ; lit.   ' Indian Women's Bank ' ) was a fully owned subsidiary of State Bank of India based in Mumbai, India . Former Indian Prime Minister Manmohan Singh inaugurated the system on 19 November 2013 on the occasion of the 96th birth anniversary of former Indian Prime Minister Indira Gandhi . As part of the Modi government's banking reforms and to ensure greater banking outreach to women,

102-405: A corporate , although this term can also apply to cooperating companies and their subsidiaries with varying degrees of shared ownership. A parent company does not have to be the larger or "more powerful" entity; it is possible for the parent company to be smaller than a subsidiary, such as DanJaq , a closely held family company, which controls Eon Productions , the large corporation which manages

153-500: A lecturer at Pachaiyappa's College. 'Its editorial stances have earned it the nickname, the ' Maha Vishnu of Mount Road'. "From the new address, 100 Mount Road, which was to remain The Hindu 's home till 1939, there issued a quarto -size paper with a front-page full of advertisements—a practice that came to an end only in 1958 when it followed the lead of its idol, the pre- Thomson Times [London]—and three back pages also at

204-536: A Wholetime Director of Kasturi & Sons Ltd. In July 2020, she became the chairperson of the group. On 5 June 2023, she stepped down, upon completion of her non-extendable three-year term as chairperson, and Nirmala Lakshman was unanimously appointed as chairperson of the group. Over the course of its history, the Kasturi Ranga Iyengar family has usually run The Hindu through the presence of family in editorial and business operations as well as on

255-642: A company (usually with limited liability ) and may be a government-owned or state-owned enterprise . They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway , Jefferies Financial Group , The Walt Disney Company , Warner Bros. Discovery , or Citigroup ; more focused companies include IBM , Xerox , and Microsoft . These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Subsidiaries are separate, distinct legal entities for

306-487: A definition that provides that "control" is "the capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in pursuing the objectives of the controlling entity". This definition was adapted in the Australian Corporations Act 2001 : s 50AA. Furthermore, it can be

357-506: A government nominee. Details can be seen on the bank's website www.bmb.co.in. One of the key objective of the Bank was focus on the banking needs of women and promote economic empowerment through women's growth and developments. The largest branch by way of volume of business, Mumbai Branch situated in the iconic Air India Building was headed by A.J. Gogoi, Chief Manager, deputed from United Bank of India The bank has been criticised as adopting

408-404: A joint arrangement (joint operation or joint venture) over which two or more parties have joint control (IFRS 11 para 4). Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Companies Act 2006 contains two definitions: one of "subsidiary" and

459-432: A judgment against the parent if they can pierce the corporate veil and prove that the parent and subsidiary are mere alter egos of one another. Thus any copyrights, trademarks, and patents remain with the subsidiary until the parent shuts down the subsidiary. Ownership of a subsidiary is usually achieved by owning a majority of its shares . This gives the parent the necessary votes to elect their nominees as directors of

510-469: A mandate to "improve the structures and other mechanisms to uphold and strengthen quality and objectivity in news reports and opinion pieces", authorised to "restructure the editorial framework and functions in line with the competitive environment". On 3 and 23 September 2003, the reader's letters column carried responses from readers saying the editorial was biased. An editorial in August 2003 observed that

561-407: A narrow chauvinism. Its Correspondents stationed in the major capitals of the world furnish The Hindu with world-wide news coverage... For its championing of reason over emotion, for its dedication to principle even in the face of criticism and popular disapproval, for its confidence in the future, it has earned the respect of its community, its country, and the world." In 2012, The Hindu became

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612-478: A recent incident, she engaged in a discussion with RSS ideologue S Gurumurthy regarding The Hindu's fact-checking of the ' sengol ' controversy. The newspaper had contradicted the Union government's claim that the 'sengol' was presented to then Prime Minister Jawaharlal Nehru by Lord Mountbatten , the last Viceroy of India. Gurumurthy contested the findings of the fact-checking article. However, she continues to be

663-477: A segregationist approach to gender equality. Uma Shashikant of The Hindu writes: Women-only banks are another instance of wanting to treat women ‘differently’. We guise this in many forms, some in garbs of reverence, some as protection, but they are all forms of discrimination that promote gender-based stereotyping. Women-only organisations stem from this eagerness to patronise women in the name of preferential treatment. Subsidiary The subsidiary can be

714-462: A subsidiary undertaking, if: The broader definition of "subsidiary undertaking" is applied to the accounting provisions of the Companies Act 2006, while the definition of "subsidiary" is used for general purposes. In Oceania , the accounting standards defined the circumstances in which one entity controls another. In doing so, they largely abandoned the legal control concepts in favour of

765-618: A useful part of the company that allows every head of the company to apply new projects and latest rules. The Hindu The Hindu is an Indian English-language daily newspaper owned by The Hindu Group , headquartered in Chennai , Tamil Nadu . It was founded as a weekly publication in 1878 by the Triplicane Six , becoming a daily in 1889. It is one of the Indian newspapers of record. As of March 2018 , The Hindu

816-525: Is a new edition for young readers, to be distributed through schools as part of The Hindu' s "Newspaper in Education" programme. It covers the day's important news developments, features, sports, and regional news. On 16 September 2013, The Hindu group launched its Tamil edition with K. Ashokan as editor. On 21 October 2013, changes were made in Editorial as well as business of The Hindu . During

867-1002: Is a subsidiary/child company of the ultimate parent company, while a second-tier subsidiary is a subsidiary of a first-tier subsidiary: a "grandchild" of the main parent company. Consequently, a third-tier subsidiary is a subsidiary of a second-tier subsidiary—a "great-grandchild" of the main parent company. The ownership structure of the small British specialist company Ford Component Sales, which sells Ford components to specialist car manufacturers and OEM manufacturers, such as Morgan Motor Company and Caterham Cars , illustrates how multiple levels of subsidiaries are used in large corporations: The word "control" and its derivatives (subsidiary and parent) may have different meanings in different contexts. These concepts may have different meanings in various areas of law (e.g. corporate law , competition law , capital markets law ) or in accounting . For example, if Company A purchases shares in Company B, it

918-592: Is associated with lower portfolio-at-risk, lower write-offs, and lower credit-loss provisions, ceteris paribus . provision The bank placed an emphasis on funding for skills developments to help in economic activity. Moreover, the products were designed in a manner to give a slight concession on loan rates to women. The bank also aimed to inspire people with entrepreneurial skills and, in conjunction with NGOs , planned to locally mobilise women to train them in vocations like toy-making or driving tractors or mobile repairs, according to Usha Ananthasubramanian (CMD). One of

969-692: Is from the southern states. It might fairly be described as a southern newspaper. The Hindu can claim to be the most respected paper in India." In 1968, the American Newspaper Publishers Association awarded The Hindu its World Press Achievement Award. An extract from the citation reads: "Throughout nearly a century of its publication The Hindu has exerted wide influence not only in Madras but throughout India. Conservative in both tone and appearance, it has wide appeal to

1020-497: Is possible that the transaction is not subject to merger control (because Company A had been deemed to already control Company B before the share purchase, under competition law rules), but at the same time Company A may be required to start consolidating Company B into its financial statements under the relevant accounting rules (because it had been treated as a joint venture before the purchase for accounting purposes). Control can be direct (e.g., an ultimate parent company controls

1071-406: Is published from 21 locations across 11 states of India. The Hindu has been a family-owned newspaper since 1905, when it was purchased by S. Kasturi Ranga Iyengar from the original founders. It is now jointly owned by Iyengar's descendants, referred to as the "Kasturi family", who serve as the directors of the holding company. Except for a period of around two years, when S. Varadarajan held

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1122-467: The 2015 South Indian floods , for the first time since its founding in 1878, the newspaper did not publish a print edition in Chennai market on 2 December, as workers were unable to reach the press building. On 5 January 2016, Parthasarathy resigned with immediate effect. It was reported by the media that she resigned her post, Malini found herself involved in several disputes with the editorial team. In

1173-470: The James Bond franchise. Conversely, the parent may be larger than some or all of its subsidiaries (if it has more than one), as the relationship is defined by control of ownership shares, not the number of employees. The parent and the subsidiary do not necessarily have to operate in the same locations or operate the same businesses. Not only is it possible that they could conceivably be competitors in

1224-524: The "scope for her efforts in freeing the newspaper from editorial biases have narrowed". The Hindu was founded in Madras on 20 September 1878 as a weekly newspaper, by what was known then as the Triplicane Six , which consisted of four law students and two teachers, that is, T. T. Rangacharya, P. V. Rangacharya, D. Kesava Rao Pantulu and N. Subba Rao Pantulu , led by G. Subramania Iyer (a school teacher from Tanjore district ) and M. Veeraraghavacharyar,

1275-514: The Board. It was headed by G. Kasturi from 1965 to 1991, N. Ravi from 1991 to 2003, and by his brother, N. Ram, from 27 June 2003 to 18 January 2011. As of 2010, there are 12 directors in the board of Kasturi & Sons. The Hindu, the first newspaper in India to have a website, launched its website at thehindu.com in 1995. On 15 August 2009, the 130-year-old newspaper launched the beta version of its redesigned website at beta.thehindu.com. This

1326-491: The English-speaking segment of the population and wide readership among government officials and business leaders... The Hindu has provided its readers a broad and balanced news coverage, enterprising reporting and a sober and thoughtful comment... It has provided its country a model of journalistic excellence... It has fought for a greater measure of humanity for India and its people... and has not confined itself to

1377-564: The Swedish arms manufacturing company winning a hefty contract with the Government of India for the purchase of 155 mm howitzers. During a six-month period, the newspaper published scores of copies of original papers that documented the secret payments, amounting to $ 50 million, into Swiss bank accounts, the agreements behind the payments, communications relating to the payments and the crisis response, and other material. The investigation

1428-409: The bank merged with State Bank of India on 1 April 2017. While being run by women, and lending exclusively to women, the bank allowed deposits to flow from everyone. India was the third country, after Pakistan and Tanzania , to have a bank exclusively to benefit women. In India, only 26% of women have an account with a formal financial institution, compared with 46% of men. This has changed after

1479-405: The editor-in-chief of the newspaper who justified the appointment on the ostensible basis of separation of ownership and management, which was opposed by N. Ravi as it deviated from the publication's tradition of family members retaining editorial control over it. Varadarajan was subsequently accused by the dissident family members of being left leaning and the matter of Varadarajan's appointment

1530-404: The editorship of the newspaper, senior editorial positions of the paper have always been held by members of the original Iyengar family or by those appointed by them under their direction. In June 2023, the former chairperson of the group, Malini Parthasarathy , who is a great-granddaughter of Iyengar, announced the end of her term as chairperson of the group, citing "ideological differences" and

1581-475: The first woman in the company to hold an editorial or managerial role, became Joint Editor of The Hindu and her sister, Malini Parthasarathy , Executive Editor. In 2003, the Jayalalitha government of the state of Tamil Nadu, of which Chennai is the capital, filed cases against The Hindu for breach of privilege of the state legislative body. The move was perceived as a government's assault on freedom of

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1632-453: The first-tier subsidiary directly) or indirect (e.g., an ultimate parent company controls second and lower tiers of subsidiaries indirectly, through first-tier subsidiaries). Recital 31 of Directive 2013/34/EU stipulates that control should be based on holding a majority of voting rights, but control may also exist where there are agreements with fellow shareholders or members. In certain circumstances, control may be effectively exercised where

1683-660: The general seriousness to lengths of severity... published in Madras, it is the only newspaper which in spite of being published only in a provincial capital is regularly and attentively read in Delhi. It is read not only as a distant and authoritative voice on national affairs but as an expression of the most liberal—and least provincial—southern attitudes... Its Delhi Bureau gives it outstanding political and economic dispatches and it carries regular and frequent reports from all state capitals, so giving more news from states, other than its own, than most newspapers in India...However, most news

1734-538: The initiation of Pradhan Manthri Jan Dhan Yojana – accounts of women jumped radically to 60%. That means an account in either a bank, a credit union, a co-operative, post office or a microfinance institution, according to a study by the World Bank . Also, for women, per capita credit is 80 per cent lower than males. Furthermore, the results of a study using a global dataset covering 350 Microfinance Institutions (MFIs) in 70 countries indicates that more women clients

1785-555: The marketplace, but such arrangements happen frequently at the end of a hostile takeover or voluntary merger. Also, because a parent company and a subsidiary are separate entities, it is entirely possible for one of them to be involved in legal proceedings, bankruptcy, tax delinquency, indictment or under investigation while the other is not. In descriptions of larger corporate structures, the terms "first-tier subsidiary", "second-tier subsidiary", "third-tier subsidiary", etc. describe multiple levels of subsidiaries. A first-tier subsidiary

1836-699: The newspaper was affected by the 'editorialising as news reporting ' virus, and expressed a determination to buck the trend, restore the professionally sound lines of demarcation, and strengthen objectivity and factuality in its coverage. In 1987–88, The Hindu' s coverage of the Bofors arms deal scandal , a series of document-backed exclusives, set the terms of the national political discourse on this subject. The Bofors scandal broke in April 1987 with Swedish Radio alleging that bribes had been paid to top Indian political leaders, officials and Army officers in return for

1887-463: The only Indian newspaper to appoint a Readers Editor, an independent internal news ombudsman. A 2014 article in the Indian Journal of Pharmacology praised The Hindu' s ongoing journalism and critique of clinical trials in India . On 7 October 2019, The Hindu announced that "Two editorial meetings a month will be opened up to readers in order to expand conversations and build trust",

1938-482: The other "subsidiary undertaking". According to s.1159 of the Act, a company is a "subsidiary" of another company, its "holding company", if that other company: The second definition is broader. According to s.1162 of the Companies Act 2006, an undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if: An undertaking is also a parent undertaking in relation to another undertaking,

1989-483: The other objectives of the bank was to promote asset ownership amongst women customers. Studies have shown that asset ownership amongst women reduces their risk of suffering from domestic violence. The Bank's initial capital consisted of Rs 1,000 crores. The government planned to have 25 branches of the said bank by the end of March 2014 and 500 branches by 4th year of operation (2017). As on date of merger it had 103 Branches. US-based FIS Global, in partnership with Wipro

2040-471: The parent holds a minority or none of the shares in the subsidiary. According to Article 22 of the directive 2013/34/EU an undertaking is a parent if it: Additionally, control may arise when: Under the international accounting standards adopted by the EU a company is deemed to control another company only if it has all the following: A subsidiary can have only one parent; otherwise, the subsidiary is, in fact,

2091-761: The press. The paper garnered support from the journalistic community. In 2010, The Indian Express reported a dispute within the publisher of The Hindu regarding the retirement age of the person working as the editor-in-chief, a post which was then being served by N. Ram. Following this report, Ram decided to sue The Indian Express for defamation, a charge which the Indian Express denied. N. Ravi and Parthasarathy voiced concern about Ram's decision, saying that doing so goes against The Hindu' s values and that journalists should not fear "scrutiny", respectively. During subsequent events, Parthasarathy tweeted that "issues relating to management of newspaper have come to

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2142-430: The purposes of taxation , regulation and liability . For this reason, they differ from divisions which are businesses fully integrated within the main company, and not legally or otherwise distinct from it. In other words, a subsidiary can sue and be sued separately from its parent and its obligations will not normally be the obligations of its parent. However, creditors of an insolvent subsidiary may be able to obtain

2193-480: The service of the advertiser. In between, there were more views than news." The partnership between Veeraraghavachariar and Subramania Iyer was dissolved in October 1898. Iyer quit the paper and Veeraraghavachariar became the sole owner and appointed C. Karunakara Menon the editor. However, The Hindu ' s adventurousness began to decline in the 1900s and so did its circulation, which was down to 800 copies when

2244-456: The sole proprietor decided to sell out. The purchaser was The Hindu ' s Legal Adviser from 1895, S. Kasturi Ranga Iyengar . Joint managing director N. Murali said in July 2003, "It is true that our readers have been complaining that some of our reports are partial and lack objectivity. But it also depends on reader beliefs." N. Ram was appointed on 27 June 2003 as its editor-in-chief with

2295-460: The subsidiary, and so exercise control. This gives rise to the common presumption that 50% plus one share is enough to create a subsidiary. There are, however, other ways that control can come about, and the exact rules both as to what control is needed, and how it is achieved, can be complex (see below). A subsidiary may itself have subsidiaries, and these, in turn, may have subsidiaries of their own. A parent and all its subsidiaries together are called

2346-483: The surface, including editorial direction" in her response to a question. Later, Parthasarathy called N. Ram and other The Hindu employees "Stalinists", alleging that they were trying to oust her from the newspaper. In 2011, during the resignation of N. Ram , the newspaper became the subject of a succession battle between the members of the Kasturi family. Ram had appointed Siddharth Varadarajan as his successor as

2397-584: Was brought in front of the board of directors of the parent company, Kasturi & Sons. During the dispute, Narasimhan Murali alleged that N. Ram ran The Hindu "like a banana republic, with cronyism and vested interests ruling the roost". In the end the board voted 6–6 over a review of the appointment, the tie was broken by a deciding vote from Ram in his capacity as the chairman of the company and in favor of his decision. On 2 April 2013 The Hindu started "The Hindu in School" with S. Shivakumar as editor. This

2448-670: Was led by a part-time correspondent of The Hindu , Chitra Subramaniam , reporting from Geneva , and was supported by Ram in Chennai. The scandal was a major embarrassment to the party in power at the centre, the Indian National Congress , and its leader Prime Minister Rajiv Gandhi . The paper's editorial accused the Prime Minister of being party to massive fraud and cover-up. In 1991, Deputy Editor N. Ravi, Ram's younger brother, replaced G. Kasturi as editor. Nirmala Lakshman, Kasturi Srinivasan's granddaughter and

2499-956: Was providing IT systems at the country's first women-focussed bank. The bank had 103 branches and was planning to open more than 700 branches within next two years. Bharatiya Mahila Bank's branches were located in Mumbai-Nariman Point, Central Mumbai-Ghatkopar, Thane, Pune, Patna, Noida, Chandigarh, Bhubaneshwar, Panchkula, Kochi, Vadodara, Ahmedabad, Indore, Bhopal, New Delhi-Nehru Palace, New Delhi-Model Town, Chandigarh, Gurgaon, Patna, Ranchi, Raipur, Guwahati, Shimla, Shillong, Gangtok, Thiruvananthapuram, Chennai, Coimbatore, Madurai, Bengaluru, Mangalore, Hyderabad, Visakhapatnam, Jaipur, Alwar, Dholpur, Komargiri, Kakinada, Goa-Panji, Agartala, Agra, Haridwar, Kanpur, Lucknow, Dehradun, Doddapalya, Kutiyatu, Murshidabad and Mysuru. The merger of this bank with SBI would mean 103 branches and business of Rs. 1,600 crores added to SBI. Bharatiya Mahila Bank

2550-438: Was the first redesign of its website since its launch. On 24 June 2010 the beta version of the website went live. On 15 August 2022, for the first time in its 144-year-old history, The Hindu started publishing Hindi-translated editorials on its website. In 1965, The Times listed The Hindu as one of the world's ten best newspapers. Discussing each of its choices in separate articles, The Times wrote: " The Hindu takes

2601-542: Was wholly owned by Government of India. Initially the bank had a board of directors consisting of eight women. Mrs. Usha Ananthasubramanian was the chairman and managing director and SM Swathi was executive director. The board consisted of a business graduate sarpanch from Rajasthan , Chhavi Rajawat , Dalit entrepreneur Kalpana Saroj , who turned around a tubes business, retired public banker Nupur Mitra , academic Pakiza Samad , private equity professional Renuka Ramnath , Godrej Group executive Director Tanya Dubash and

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