The former bureaucrat did his image no favours, presiding over a sharp erosion of shareholder wealth that culminated in him being forced out of the chairman’s position.
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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 Indian government wants someone who toes its line in the RBI chair. The economy needs someone who can rise above being a yes-man.
The central bank, under Das, has gone from reactive to proactive regulation. With signs of stress resurfacing in the banking system, the need for a taskmaster like him at the helm is stronger than ever.