In addition to challenges such as reining in non-performing assets (NPAs) and boosting profits, Chaudhry will have to repair the bank's reputation, build internal controls, and improve regulatory relations.
In Q1FY26, the bank reported fresh slippages of 8,200 crore, up 71 per cent Y-o-Y and sequentially. Of this, 7,500 crore is from the retail segment.
Private sector banks that announced their earnings for the October-December quarter (Q3) of 2024-25 (FY25) reported a rise in credit costs due to higher provisions, mainly for unsecured retail loans.
'We have seen something do very well when the times are good but maybe not as well when the times are bad.'
Nadaaniyan's lack of charm, chemistry and cheek fails to create any ripples sighs Sukanya Verma.
Kaizad Bharucha, executive director of HDFC Bank, emerged the highest earning banker for 2021-22 (FY22). This was revealed in a remuneration assessment of the country's top bankers, according to annual reports. Bharucha, who oversees wholesale banking at HDFC Bank, received Rs 10.64 crore remuneration in FY22, mainly due to Rs 4.46 crore as performance bonus. Although earned between 2017-18 and 2020-21 (FY21), the bonus payout was partly paid in FY22.
Axis Bank on Wednesday said it has completed the acquisition of Citibank's retail business in India for a final cash consideration of Rs 11,603 crore. The sale excludes Citi's institutional client businesses in India. The third-largest private sector bank said the acquisition, announced first in March last year, will not necessitate any new capital requirements and stressed that the attrition numbers on customers are much better than expected.
Aim is to boost sales volumes and increase penetration.
'We treat attrition as a business problem, not just an HR problem,' says Amitabh Chaudhary, Infosys BPO CEO.
Society for Elimination of Rural Poverty chief executive officer T Vijaya Kumar and Infosys BPO Limited CEO and managing director Amitabh Chaudhry signed the MoU in the presence of chief minister K Rosaiah, state rural development minister Vatti Vasantha Kumar and other senior officials in Hyderabad.
IT bellwether Infosys Technologies is on the prowl to acquire small and medium business process outsourcing companies that fit strategically with the operations of its subsidiary, Infosys BPO.
"We plan to hire 2,000 people in the next four-five months or by the end of this fiscal. Currently we are 16,000 people in India."
Infosys BPO is planning on closing 3 deals to the tune of Rs 600 crores in the next 3-6 months.
Infosys has a long way to go as far as IT business is concerned, said Kris Gopalakrishnan, CEO Infosys Technologies Ltd.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
Amitabh Chaudhry, who will now head the merged entity, will manage assets under management of about Rs 1.10 lakh crore and an employee base of 23,620 after the completion of the deal
The concept of going back to the home and away format in Ranji Trophy games after one year's experiment with neutral venue format found favour from the majority of participants in the Board of Control for Cricket in India's captains-cum-coaches conclave in Mumbai on Tuesday.
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
Diana wanted to give away IPL winners' trophy but eventually convention followed
'We tightened our risk frameworks once the Covid crisis started.' 'We are slowly lightening this as we see economic activity pick up, salaries getting restored, and people getting back into jobs.'
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
While notable participants among 22 state units were acting president CK Khanna (Delhi), cornered treasurer Aniruddh Chaudhry (Haryana) and current CAB president Sourav Ganguly (joining on tele-conference), the acting secretary Amitabh Chaudhary (Jharkhand) chose to skip the informal gathering keeping a distance from the revolters.
Anupam Kher hosted a special screening of his new film Uunchai, also starring Amitabh Bachchan, Boman Irani, Danny Denzongpa, Parineeti Chopra, Neena Gupta and Sarika.
The Cabinet on Thursday approved 49 per cent foreign investment in insurance companies through the Foreign Investment Promotion Board route ensuring management control in the hands of Indian promoters.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
The ministry informed the tribunal that former head of ILFS Financial Services Ramesh Chandra Bawa withdrew/transferred Rs 1 crore and Rs 14 lakh from Axis Bank accounts in two instances which are in violation of the December 3, 2018 order of the tribunal which had frozen these accounts.
A top official of the Board of Control for Cricket in India on Wednesday stated that the World Cup match between India and Pakistan will not take place if the Indian government is against it.
The three-member probe panel has summoned acting the Board of Control for Cricket in India president CK Khanna and acting secretary Amitabh Choudhary to join treasurer Anirudh Chaudhry for deposition in the alleged sexual harassment case against CEO Rahul Johri.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
'Banks have to be braver, willing to take more risks and give confidence to the customer,' observes Joydeep Ghosh.
Subhash K Jha pays tribute to the late Shravan Rathod.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
"The COA has asked for amicus curiae's (Gopal Subramanium) opinion with regards to Johri's salary. A legal opinion has been sought but at this moment, we won't be able to divulge the details," a BCCI official told reporters on the sidelines of COA meeting.
HDFC Life has a balance between traditional policies and Ulips
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
The Committee of Administrators (COA) has issued a seven-point instruction for the three existing BCCI office bearers - vice president CK Khanna, joint secretary Amitabh Chaudhary and treasurer Aniruddh Chaudhry.
The Board of Control for Cricket in India's current joint secretary Amitabh Chaudhary and treasurer Aniruddh Chaudhry's presence at an informal unsanctioned gathering, arranged by former president Narayanswami Srinivasan has brought them under the scanner of Committee of Administrators (COA).
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