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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.
The lender gets more than double the complaints of bigger rivals, driven by its frequent revisions of charges, the absence of a strong redressal mechanism and a management obsessed with growth.
On 3 March 2022, in an investor call on reaching an agreement to acquire Citibank’s consumer business in India, Axis Bank CEO Amitabh Chaudhry said: “We will ensure the continuity of superior service level to the customers.”
Ironically, service is what Axis Bank seems to be grappling with. In the financial year 2021-22, ending the very month Chaudhry gave the assurance, the bank reported 935,000 customer complaints—a 3x spike from the 360,000 received the year before. A year later, even though the bank may have managed to largely contain their rise—complaints came in at 943,000—the fact is that the number …
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.
The fund house has fallen behind its peers. What explains the sub-par performance?
The announcement of the deputy managing director’s retirement in August may have more to it than meets the eye.
