Two government initiatives for the poor were exploited to siphon thousands of crores to entities connected to the mortgage lender’s promoters.
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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.
Investors seem to be having a hard time getting their money back from the US-headquartered ‘alternative investment fund’. Several government agencies are taking note.