The regulator is pushing for incumbents to be replaced with candidates from outside (and shorter tenures), while the banks continue to set store by continuity and stability.
Federal Bank CEO Shyam Srinivasan steps down in September. With mere months to go, his successor ought to have been finalized by now. Especially so given that the bank isn’t lacking in the requisite talent to take the helm.
That this hasn’t happened is because the Reserve Bank of India has pushed it to scout for an external candidate for the top job. Easier said than done, given the paucity of executives with C-suite experience in the banking system.
Again, it’s not as if the central bank is singling out Federal Bank. Over the past few years, the RBI …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi