Friday, February 21, 2014

UBI CMD resigns

According to,

"Bhargava reportedly had a stormy stint at the bank after she brought up several issues of accounting malpractices before the central bank and was said to have had a run-in with other top employees at the state-run lender."

Archana Bhargava was the CMD of the public sector bank, United Bank of India. The view expressed by is the generally held opinion on what has happened in the bank. It is unfortunate that an executive who preferred to share the ills of the bank with RBI has had to quit. 

This is not a healthy situation. If bankmen begin to feel that careers are not sustainable sans compromise, it only means that the rot has gone deep. This is a real test for Raghuram Rajan's integrity.

Update as on 9th March:

Some insiders say that AB united all executives of the bank and made them into a team. She made them united against her!

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