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To protect the turnaround of the last few years and have a shot at a universal banking licence, the small finance bank needs to quickly find a successor to its current chief who retires in under a year.
Divergent narratives from the Haryana government and the lender raise deeper questions on oversight, authorizations and systemic lapses—answers that may emerge only after a forensic audit.
The Bengaluru-based lender is once again gearing up to seek the RBI’s nod after the central bank returned its application last year.
The Kerala-based bank has been chasing costly and risky bulk term deposits amid tanking profitability.