From Axis Bank to RBL, private banks have their task cut out in FY20

With additional challenges such as fresh stress, loan growth, and escalating costs, the sector faces a tough year ahead

When the head of India’s largest bank, State Bank of India, says that every morning he looks up at the sky and prays to God that the three large accounts stuck in the middle of resolution get sorted out, it is an indicator of what lies ahead for the banking industry in FY20. Likewise, when Amitabh Chaudhry, MD & CEO, Axis Bank, says that he is willing to cede some business for the sake of sustainability, it is again an indication of tough times the industry is likely to go through. While ‘stress or pain’ may be harsh to describe