For new CEO Sashidhar Jagdishan, top-end customers will continue to be a priority. But there will be an urgency to move with more force and ammunition to the semiurban and rural areas.
HDFC Bank's new CEO Sashidhar Jagdishan and the'Karamchand Gang' plan to give Aditya Puri the "most poignant and emotional farewell". This includes video clips from Mukesh Ambani and other corporate honchos. Some view this Puri-heavy marketing as akin to a personality cult being built for the legacy to stay on.
India's 4th-largest ARC, Kotak's Phoenix Arc, makes 5 bad loan purchases in the last two months after pausing since Mar; Covid also prompts the firm to slow down sales of its acquired stressed assets due to low pricing.
Rising food prices push up wholesale price inflation in Sep to touch a 7-month high at 1.3%. This is led by prices of potatoes and pulses. Retail inflation is at 8-month high at 7.34% in Sep. This leaves a bleak chance for RBI to cut rates.
Credit card spends are higher than debit cards. This is despite the number of debit cards being 16 times higher than the number of credit cards.
The next round of NPAs will be retail and MSMEs. Will banks crumble under the weight of new NPAs and the Covid-induced financial crisis? Will debt restructuring shelter them from the storm?
Politeness is what makes a bank great and values are your personal bottom-line, says Rajnish Kumar. Read here the unedited transcript of his speech.
