Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
In April 2015, the regulator issued a show cause notice to the bank for alleged violation of portfolio managers' norms with respect to one relationship manager.
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.
It won't be easy for the banking sector to better its performance every quarter, predicts Tamal Bandyopadhyay.
Global banking major Citigroup has stuck the biggest property deal in recent years in the country by paying a hefty Rs 985 crore (Rs 9.85 billion) for six floors in the upcoming First International Financial Centre (FIFC) Tower at the coveted Bandra-Kurla Complex, to house its country headquarters.
Citigroup Global Markets (M) Ltd has acquired 5.67 per cent stake in the Nishar group's Hexaware Technologies Ltd.\n\n\n\n
Shelters -- a Citibank NA associate is looking for Relationship Officers -- Business Loans to market their business lending products.
SAS, global leaders in business intelligence solutions, on Friday announced setting up of its largest research and development centre in Pune, as it expects the Indian market to grow by 27 per cent and generate $87.4 billion worth business by 2009.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
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.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
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