Inside Axis Bank’s toxic work culture

The frenetic pace set by CEO Amitabh Chaudhry in turning around the lender’s fortunes is taking a toll on employees, triggering an exodus.

61,734. That’s the number of people who left Axis Bank between 2018-19 and 2020-21. A full 2,000 people more than the 59,614 employees on its payroll in 2017-18.

The period coincides with Amitabh Chaudhry’s taking over the helm of India’s third largest private sector bank, a time when its books have begun to look healthy, as has its asset quality. Even the shares of the bank are putting up a decent show at the bourses.

Chaudhry himself has been rewarded with an extension, which kicked in at the start of the year.

Yet not all is well at the bank. …


Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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