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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The small finance bank’s founder seems to be losing his top executives and investor confidence at a time when stress on the books is building.
On 1 December 2019, when HDFC Bank’s digital banking head Nitin Chugh took the reins at Ujjivan Small Finance Bank from its founder Samit Ghosh, he was given a three-year tenure. But halfway through, in August 2021, Chugh abruptly resigned as managing director and CEO.
Chugh isn’t the lone top-level exit from the bank; 12 people in senior management positions have left in just the last year. There have also been five resignations at the board level, and over 20 resignations two levels below Chugh’s.
The resignations come at a time when the bank is facing mounting stress in its …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
