Forbes India has an article on how the investor group led by former Pepsi India head Ramesh Vangal is the latest one to struggle to gain control of the Tamil Nadu-based community bank TMB. In TMB’s Tuticorin headquarters sits an equally worried-looking man. Managing Director Nagamal Reddy wants to take a slew of decisions to respond to economic challenges and nudge the business forward. TMB needs to open new branches, finalise a national expansion strategy, quickly hire at least 600 people, issue bonus shares to capitalise its huge reserves, and draw up plans for an initial public offering. He can’t do any of this, because he doesn’t have a board to take these plans to. Well, two nominees of Reserve Bank of India keep him company, but a full-fledged board that has the power to take these decisions has not been allowed to take charge. At stake is not only TMB’s ownership but the larger question about community banks in India. These banks, which combine traditional forms of relationshi...