The financial services group needs to cut debt sooner rather than later, and selling a unit is the best option on the table.
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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.
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.
Already on a two-year extension (instead of the usual three), the banker hasn’t really moved the needle on the tasks he was set. Plus, his demand for a hike seems to be a fresh irritant for the RBI.