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Time of India
6 hours ago
- Business
- Time of India
ICICI Bank reports lowest attrition rate among private peers in last 3 fiscal years
Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. New Delhi, ICICI Bank has reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working the last three financial years, the industry has also witnessed a sustained decline on a year-on-year employee attrition rate at the country's second-largest private sector bank declined to 18 per cent in FY25 from 24.5 per cent in FY24, according to the bank's latest Business Responsibility and Sustainability Reporting (BRSR) 2022-23, the bank reported an attrition rate of 30.9 per cent, lower than its larger peer, HDFC Bank, has recorded an employee attrition rate of 22.6 per cent in FY25, compared to 26.9 per cent in FY24. The attrition was 34.2 per cent during the attrition was 25.5 per cent for Axis Bank, down from 28.8 per cent in FY24, and Kotak Mahindra Bank's manpower exit rate fell to 33.3 per cent from 39.6 per cent in the previous year, according to their annual and BRSR IndusInd Bank, the attrition rate was 29 per cent in FY25, lower than 37 per cent witnessed during 2023-24 and 51 per cent in the past three years, from FY23 to FY25, private sector banks have seen a southward movement in their employee attrition slowing attrition rate can be attributed to a combination of factors like a subdued entry-level job market in the BFSI and fintech industries and the growth of digital services, said a senior HR executive of a bank, requesting private sector banks went on a recruitment frenzy post-pandemic, which led to a high attrition rate subsequently."Now, the market appears to be stabilised, meaning banks are not heavily recruiting and the entry-level employees are not leaving banks to join fintech companies," said a senior HR executive of a private sector bank.
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Business Standard
a day ago
- Business
- Business Standard
ICICI Bank posts lowest attrition rate among major pvt lenders in 3 years
ICICI Bank has reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working environment. During the last three financial years, the industry has also witnessed a sustained decline on a year-on-year basis. The employee attrition rate at the country's second-largest private sector bank declined to 18 per cent in FY25 from 24.5 per cent in FY24, according to the bank's latest Business Responsibility and Sustainability Reporting (BRSR) report. During 2022-23, the bank reported an attrition rate of 30.9 per cent, lower than its competitors. Its larger peer, HDFC Bank, has recorded an employee attrition rate of 22.6 per cent in FY25, compared to 26.9 per cent in FY24. The attrition was 34.2 per cent during 2022-23. Similarly, the attrition was 25.5 per cent for Axis Bank, down from 28.8 per cent in FY24, and Kotak Mahindra Bank's manpower exit rate fell to 33.3 per cent from 39.6 per cent in the previous year, according to their annual and BRSR reports. For IndusInd Bank, the attrition rate was 29 per cent in FY25, lower than 37 per cent witnessed during 2023-24 and 51 per cent in FY23. Over the past three years, from FY23 to FY25, private sector banks have seen a southward movement in their employee attrition rates. The slowing attrition rate can be attributed to a combination of factors like a subdued entry-level job market in the BFSI and fintech industries and the growth of digital services, said a senior HR executive of a bank, requesting anonymity. Most private sector banks went on a recruitment frenzy post-pandemic, which led to a high attrition rate subsequently. "Now, the market appears to be stabilised, meaning banks are not heavily recruiting and the entry-level employees are not leaving banks to join fintech companies," said a senior HR executive of a private sector bank.
The Hindu
a day ago
- Business
- The Hindu
ICICI Bank reports lowest attrition rate among private peers in last 3 fiscal years
ICICI Bank has reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working environment. During the last three financial years, the industry has also witnessed a sustained decline on a year-on-year basis. The employee attrition rate at the country's second-largest private sector bank declined to 18% in FY25 from 24.5% in FY24, according to the bank's latest Business Responsibility and Sustainability Reporting (BRSR) report. During 2022-23, the bank reported an attrition rate of 30.9%, lower than its competitors. Its larger peer, HDFC Bank, has recorded an employee attrition rate of 22.6% in FY25, compared to 26.9% in FY24. The attrition was 34.2% during 2022-23. Similarly, the attrition was 25.5% for Axis Bank, down from 28.8% in FY24, and Kotak Mahindra Bank's manpower exit rate fell to 33.3% from 39.6% in the previous year, according to their annual and BRSR reports. For IndusInd Bank, the attrition rate was 29% in FY25, lower than 37% witnessed during 2023-24 and 51% in FY23. Over the past three years, from FY23 to FY25, private sector banks have seen a southward movement in their employee attrition rates. The slowing attrition rate can be attributed to a combination of factors like a subdued entry-level job market in the BFSI and fintech industries and the growth of digital services, said a senior HR executive of a bank, requesting anonymity. Most private sector banks went on a recruitment frenzy post-pandemic, which led to a high attrition rate subsequently. "Now, the market appears to be stabilised, meaning banks are not heavily recruiting and the entry-level employees are not leaving banks to join fintech companies," said a senior HR executive of a private sector bank.
India Today
27-07-2025
- Business
- India Today
Are corporates quietly leading India's climate transition? A researcher's perspective
Almost every day, we scroll past at least one news headline about climate change. Yet, how many of us truly grasp the magnitude of the risk it poses, not just to our environment, but to our economies, financial systems, and the corporate world? This is not just an environmental issue; it is a full-blown financial reckoning. And opinions about the depth and breadth of climate-related risks differ markedly across stakeholders, from heads of state and bureaucrats to fund managers and business RISK IS NOW A BUSINESS RISKTake, for instance, an eye-opening survey conducted in 2021 by Professors Johannes Stroebel and Jeffrey Wurgler of the NYU Stern School of 861 finance professionals, regulators, academics, and economists, they found that 73% of private sector professionals believed climate risks are undermined (underpriced) in financial markets, compared to 51% among academicians. The disparity in perception itself reveals a key challenge -- the market has yet to fully internalise climate risk. But how, one might ask, are climate and finance interlinked in the first place? What does 'climate risk' actually mean in financial terms?Is it merely the spectre of floods, droughts, and natural disasters? Or is there more to the story? The answer lies in the policy shifts playing out on the national is a committed signatory to the United Nations' Sustainable Development Goals (SDGs) and has made ambitious Nationally Determined Contributions (NDCs), including a pledge to source 50% of its electricity from non-fossil fuel sources by certainly. But for corporates, these noble climate pledges translate into hard compliance mandates, tighter disclosures, and operational restructuring, in essence, a new breed of operational the Business Responsibility and Sustainability Reporting (BRSR) framework mandated by SEBI for the top 1000 listed companies in must now disclose granular details about their energy consumption, carbon emissions, and sustainability practices. Climate compliance is no longer a corporate social responsibility initiative; it is gradually becoming a strategic pressure doesn't emanate solely from regulators. A more environmentally conscious breed of investors, consumers, and civil society actors are demanding surge in sustainable and responsible investing (SRI) is proof that environmental stewardship now carries market consequences. The upshot of all this?Companies are increasingly exposed to 'transition risk', i.e., the financial and operational fallout from a rapid move toward greener norms, policies, and runs parallel to 'physical risk', the traditional category encompassing the direct impact of climate-related disasters like cyclones, droughts, and extreme these twin risks are reshaping the contours of corporate decision-making in India. To empirically assess this behavioral shift, we conducted a comprehensive study of 1174 listed non-financial firms in India spanning 2005 to aim was simple yet urgent: Are Indian companies adapting to climate risk? If so, how? Our findings, recently published in Energy Economics, offer compelling energy consumption, which accounts for nearly 41% of total national energy usage (MoSPI 2021), is already being recalibrated in response to climate observed that firms facing higher climate vulnerability are significantly reducing their energy consumption. This isn't coincidental but a clear response to regulatory, reputational, and financial this response is asymmetric. Energyintensive firms are leading the charge, likely because they have more to lose from non-affiliated firms (those not part of large business groups) and those with robust corporate governance mechanisms show stronger climate quality plays a crucial role in steering firms toward long-term sustainability strategies, while business group affiliation may cushion the perceived impact of climate threats, thereby dulling the urgency to shift became more pronounced after the 2016 Paris Agreement, marking a tipping point in how Indian firms interpret and respond to climate policy course, reducing energy consumption is not without trade-offs. Firms face a strategic dilemma: inaction invites regulatory penalties and investor backlash, while aggressive energy cuts can impair productivity, output, and EFFICIENCY EMEREGES AS A STRATEGIC BUSINESS RESPONSEOur research reveals that firms are not merely cutting back; they are pursuing a strategic middle path, i.e., improving energy investing in technology upgrades and process optimisation, they are learning to generate more output with the same or lower energy not only mitigates emissions but also improves cost efficiency and long-term resilience. Notably, markets appear to be taking that demonstrate better energy efficiency attract higher valuations, suggesting that capital markets are beginning to reward green behaviour, an encouraging signal for the future of ESG investing in finds itself at a crossroads. As per the ND-GAIN index, it ranks 115th out of 187 countries in climate vulnerability. At the same time, it is poised to become the thirdlargest global over 76% of its energy needs in 2021 were met by coal and crude oil. This dichotomy, between environmental fragility and developmental urgency makes the role of Indian businesses absolutely state alone cannot carry the climate burden. The baton must also be passed to industry, not just to react, but to lead. Our research shows that this leadership is already emerging quietly and unevenly, but undeniably. While global climate diplomacy continues to be marred by political deadlock and insufficient commitments, as evidenced by India's rejection of the $300 million annual climate grant at COP29, terming it 'too little, too late', the real action may be unfolding catalyse this movement, government and regulatory support must keep disclosures, streamlined access to green finance, and predictable policy frameworks are critical to support companies that are willing to walk the talk.(THIS ARTICLE HAS BEEN CO-AUTHORED BY SHASHANK PRAKASH SRIVASTAV, DOCTORAL SCHOLAR, AND PROFESSOR M. KANNADHASAN, BOTH FROM THE INDIAN INSTITUTE OF MANAGEMENT RAIPUR)- Ends
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Business Standard
15-07-2025
- Business
- Business Standard
AIFs must lead ESG push in unlisted firms, says Sebi's Ruchi Chojer
Sebi executive director says AIFs must align with global ESG norms as 40 per cent of capital comes from foreign investors expecting high disclosure standards BS Reporter Mumbai Alternate investment funds (AIFs) must play a key role in driving environmental, social, and governance (ESG) adoption among unlisted investee companies, said Ruchi Chojer, Executive Director at the Securities and Exchange Board of India (Sebi). Chojer was speaking at a fireside chat organised by the Indian Venture and Alternate Capital Association (IVCA) as part of its Renewable Energy Summit 2025. She said 40 per cent of AIF capital comes from foreign investors who expect alignment with global disclosure standards and added that the regulator is open to proposals for ESG-labelled AIF categories. 'India will need an estimated $250 billion by 2030 to finance renewable energy, storage, and transmission. Sebi remains committed to enabling this transformation by providing regulatory clarity, reducing policy risk, and supporting innovative investment structures. Our goal is to ensure that India's capital markets continue to serve not just as engines of growth but also as platforms for building a sustainable, future-ready economy,' Chojer said. Underlining Sebi's efforts, she noted that the Business Responsibility and Sustainability Reporting (BRSR) framework has elevated ESG disclosures in India to the level of financial reporting—making them assured, consistent, and decision-useful. First Published: Jul 15 2025 | 6:35 PM IST
