The pandemic seems to have exposed chinks in what was seen as the best banking story this decade
In March 2018, some of India’s largest private sector banks were in the throes of a crisis, coming under increasing fire from the Reserve Bank of India for under-reporting their non-performing assets. The heads of two such banks were under a cloud and the private banking space, after two years of solid performance, seemed to have run into some strong headwinds.
It was against this background that Kolkata-headquartered Bandhan Bank listed. It’s listing price of Rs 487 was a 30% premium to the issue price, and in the next three months, the stock rose to Rs 700, returning more than …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai