An interim order by SEBI on last year’s front-running scandal is in the nature of a wake-up call for the fund house to address the issues that continue to dog it.
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The increasing convergence of sales and service functions, with consequent non-stop pressure to meet targets, has seen employees jump ship in droves. This has the potential to adversely impact the financial institutions’ health.
While SEBI has allowed domestic mutual funds to invest in overseas funds, the cap set by the RBI for such funds could defeat the purpose of the market regulator’s move.
The bank, following its March 2020 bailout, may have gone overboard in its quest for safety. That may soon change as it looks to acquire a microfinance business with the promise of high returns.