26 November, 2020

How A Man Became An NPA

GTB's Ramesh Gelli played the game well: only bent the rules

Buissnesworld
How A Man Became An NPA
outlookindia.com
-0001-11-30T00:00:00+05:53
It didn't quite match up to a biriyani or the Charminar but in the last decade Global Trust Bank (GTB) had grown to become another Hyderbadi institution. However, recently the bank's founder Ramesh Gelli had begun hogging the headlines for the wrong reasons. And GTB's fortunes got invariably linked with Gelli, who projected himself as the small-big-man of Indian banking. An engineer and not a banker by training, Gelli began his career with the Hyderabad-based tobacco giant vst before moving on to BHEL and AP Road Transport Corporation. It was after he joined Vysya Bank as a GM in 1980 that his career skyrocketed. In just three years, at 37, he became the youngest chairman of an Indian bank. He was awarded the Padmashri in 1991.

With the opening up of the banking sector in 1993, the poster boy of Indian banking applied for a licence to start a private bank. His partners: Sridhar Subasri and Jayanta Madhab, who had spent 24 years with the Asian Development Bank (ADB) in Manila. They also roped in the International Finance Corporation and the ADB as shareholders. GTB opened for...
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