The resignation (and hasty send-off) of joint MD K.V.S. Manian has only added to the problems besetting India’s fourth largest private sector bank.
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Mounting concentration risk has forced the fund house to change tack yet again. While shifting focus to small-cap stocks from defensive ones could somewhat help, such frequent switches are less than ideal.
The CEO of the financial services business of the Aditya Birla Group has little to show for her near three years at the helm. That her digital push has turned out to be a dud only makes it worse.
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.