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.
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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.
The microfinance institution faces a possible recall of nearly Rs 6,000 crore in loans given by banks, which it will be hard-pressed to repay given the state of its assets.