Private banks in India are facing a high rate of attrition, particularly amongst younger entry-level employees due to high demand for loans. Last year, HDFC Bank's turnover rate rose to 34%, Axis Bank was at 35% and Kotak Mahindra Bank recorded a surge in at approximately 50% whilst Yes Bank's attrition hit 43%. The attrition rate is caused by increasing pressure on frontline staff to fulfil the demand for loans.