by atlas mídia
Private banks in India are experiencing a significant attrition rate, particularly among younger entry-level employees, driven by the high demand for loans.
HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Yes Bank all witnessed substantial turnover rates last year, reflecting the pressure on frontline staff to meet loan demands.
India's private banks are observing a surge in attrition rates, with one in three entry-level frontline staff leaving their positions, according to reports.
Banks are experiencing robust loan demand as they compete to gain a larger market share in a crowded sector.
Credit demand grew 15% last financial year and is anticipated to expand by 10-12% this year, primarily driven by retail loans.
Rapid growth in private banks has led to increased pressure on frontline staff. HDFC Bank's turnover rate reached 34%, Axis Bank's was nearly 35%, Kotak Mahindra Bank faced an attrition surge of about 50%, and Yes Bank reported a 43% attrition rate.