Feature

Will small finance banks regain their mojo?

Just as euphoria was building around the banks, extended lockdown and poor collections came crushing in. The impact is now showing on their books

K Paul Thomas never imagined he would be hospitalised the day he took the vaccine jab. But, call it bad luck or the ferocity of the second wave, he was admitted in a facility in Thrissur, Kerala, that very day in April, diagnosed with the infectious respiratory disease. The MD & CEO of Kerala-based ESAF Small Finance Bank has since recovered, but he will need divine intervention to salvage the business of his bank, which has been ravaged by the pandemic.