The bank, following its March 2020 bailout, may have gone overboard in its quest for safety. That may soon change as it looks to acquire a microfinance business with the promise of high returns.
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The announcement of the deputy managing director’s retirement in August may have more to it than meets the eye.
Strapped for top-flight talent as well as differentiated products, Reliance’s financial services business hasn’t managed to move the needle in its two years of existence.
After the derivatives hedging fiasco triggered the resignations of top executives, indications are that the regulator expects the private lender’s board to do a thorough cleanup.