All’s well is the chant we are hearing about the Indian banking system. But this one bank came under the close supervision of the regulator. No, its not the name that you are thinking because this name moved up the watch list just a few months ago. Its not that things are waiting to fall apart or explode for this new entrant to the list, but the way it is keeping its business intact and growing is raising many eyeballs. The bank is just about a spec in the ocean, but there’s not one major fintech that doesn’t have a tie-up with this bank.
Whether it is to do with sourcing loans, managing its internal systems, or throwing up the routine MIS sheets, it has tied up with new-age service providers. Now, the regulator isn’t happy with this, and is nudging the bank to do it all in-house. Tow the line or be ready to face the consequences the big boss has warned the bank.
Podcast
Depositors’ paradise? Will FY24 favour depositors as the fight for liquidity gets real? Karthik Srinivasan, group head, financial sector ratings, ICRA has the answers
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