The pandemic seems to have exposed chinks in what was seen as the best banking story this decade
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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.
Personal loans in India have seen excessive growth, fuelling risky investments like speculative trading. Things will not end well for lenders when the music stops playing.
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.