Reserve Bank of India (RBI) Governor Shaktikanta Das has raised concerns over the high attrition rates observed in certain private sector banks and affirmed that the central bank is closely monitoring this issue.
Speaking at the annual BFSI Insight Summit organised by Business Standard, Das noted that the RBI is actively addressing the matter as part of its regulatory oversight.
Against the backdrop of some major banks reporting attrition rates exceeding 30 per cent, Das emphasised the need for each bank to establish a core team to address these challenges.
He also pointed out a shift in the career outlook of young professionals, with a growing tendency toward job switching and a distinct mindset.
Furthermore, Das highlighted the continued robustness of the economic growth momentum, expressing confidence that the GDP figures for the second quarter would pleasantly surprise.
While acknowledging that geopolitical uncertainty poses the greatest risk to global growth, he underscored that India is well-positioned to manage potential risks effectively.
Bhuvan Krishna is Staff Writer at Swarajya.
An appeal from Swarajya
At Swarajya, we rely on our readers' support through subscriptions to sustain our media platform. Unlike larger conglomerates, we are unable to relentlessly chase advertising money — our model is largely built on your patronage.
Your support has never been more crucial. We work tirelessly to deliver 10-15 high-quality articles daily, ensuring you receive insightful content from 7 AM to 10 PM.
If you believe India's story has to be articulated in a way it has never been done before without shrugging it off, become a patron (or) subscribe now for ₹̶2̶4̶0̶0̶ ₹1999 and get 12 print issues, unlimited digital access for 1 year, a special India that is Bharat T-shirt (Offer ends soon).
We are counting on you!