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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.
For the past three months, the Mangaluru-based private sector lender hasn’t had a full-time chief executive. But finding a successor is as important as fixing the bank’s worrying financials.
Karnataka Bank is running out of time. It’s now been three months since the unceremonious exit of Srikrishnan Hari Hara Sarma as chief executive. The Mangaluru-based private sector lender has been without a full-time CEO all this time.
Meanwhile, things haven’t been easy for Raghavendra Srinivas Bhat, a long-term employee of the bank who was appointed interim CEO in mid-July. In these three months, Bhat has faced significant setbacks on the people front.
For now, Bhat’s tenure, initially due to get over on 15 October, has been extended by another month by the Reserve Bank of India. But the hunt …
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.
