Aggressive lending: check.
Irresponsible expansion: check.
A leader with a big appetite for risk and focus only on the immediate future: check.
Lack of a proper systems to verify the customer history or recover bad loans: check.
These are some of the real reasons behind the crisis at Indian Overseas Bank (IOB) that forced banking regulator Reserve Bank of India to initiate “a prompt corrective action” at the Chennai-based lender to curb bad loans, improve internal controls and...
What went wrong at Indian Overseas Bank
Irresponsible expansion: check.
A leader with a big appetite for risk and focus only on the immediate future: check.
Lack of a proper systems to verify the customer history or recover bad loans: check.
These are some of the real reasons behind the crisis at Indian Overseas Bank (IOB) that forced banking regulator Reserve Bank of India to initiate “a prompt corrective action” at the Chennai-based lender to curb bad loans, improve internal controls and...
What went wrong at Indian Overseas Bank