Pink city blues for AU Small Finance Bank

Analysts are now questioning the lender's hiring policy following the high level of exits

AU Small Finance Bank – which commands an expensive valuation due to its robust track-record  - is in a rather peculiar situation. The bank has seen a high level of attrition in the last few months, including some senior-level exits. The reason: Some of the employees are not willing to work at its head office located in Rajasthan's Jaipur,  also known as the Pink City.

On Tuesday, the bank’s stock tanked 13 per cent after it was reported that Sumit Dhir, recently hired as chief audit officer, had resigned. The bank confirmed the development in a late evening communication to