Older Generation of Leaders Moves on at Indian Private Banks

Change is coming to some of India’s top private banks as regulators shunt aside a previous generation of leaders in a bid to improve corporate governance and get to grips with a mountain of bad loans.

By cutting short the terms of the chief executives of Axis Bank Ltd. and Yes Bank Ltd., both of which were found to have a higher ratio of bad assets than initially reported, the Reserve Bank of India has signaled that management will be held accountable. That’s a positive development for bank shareholders.