A gaping hole in its books in the midst of a leadership crisis has seriously impacted India’s fifth largest private sector lender. Can its MIA promoters step up and restore the confidence of depositors and investors?
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SBI is in discussions with its French partner on the contours of a near Rs 20,000-crore listing of the mutual fund house. But challenges in the form of a unique shareholder agreement and the recent poor performance of the AMC could derail plans.
The Sandeep Bakhshi-helmed private lender has moved swiftly to grab a bigger slice of the corporate loan action, posing a threat to what was once HDFC Bank’s bastion.
The CEO’s tenure has been extended to no more than a year by the RBI, instead of the three sought by the bank. The regulator’s message is loud and clear: this might be Kathpalia’s last chance at getting his house in order.