The last-mile challenge

....Chaudhuri’s batchmates Diwakar Gupta and Hemant Contractor, and one-year junior A. Krishna Kumar—all three are now managing directors—fought for the top job in December 2010. Technically, Contractor was senior to Chaudhuri as he became a deputy managing director ahead of him. The clincher was possibly Chaudhuri’s candid answer to Reserve Bank of India (RBI) deputy governor Shyamala Gopinath’s query on why SBI was so aggressive in disbursing home loans. She was unhappy with the bank’s so-called teaser loans, in which a borrower pays a relatively lower fixed interest rate for the initial couple of years and a market-determined rate thereafter.......

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