Indian - Businessman | March 15, 1959 -
Our approach to banking is very different from the traditional banks or even some of the new banks. We do not necessarily go out and write single-cheque, large-ticket loans.
Uday Kotak
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Our entire approach to the banking and financial services business is risk-adjusted returns. We believe that in most parts of the world, and including pockets in India, banking tends to mis-price risk.
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We are extremely focused on building some of the assets which are going into mid-India, semi-urban and rural, and that's our DNA. We are building a retail bank, and a lot of the deposit base is still in urban India.
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In equities, you price the risk. As far as debt is concerned, if the markets get more sophisticated where, for the levels of risks that you take, you get the debt returns, we will certainly look at it. It's back to a philosophy of risk-adjusted returns.
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My view is the core engine supporting India's growth aspiration will be the financial sector, which will have to get more efficient.
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Foreign investors are looking for a consistent and stable policy in India.
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What we have to be careful is that if we drop interest rates where the rate of interest is lower than inflation, then savers will not put money in financial savings and move it to gold and real estate, which is bad for India.
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I am big believer that increase the size of the cake is as at least as important as distribution of the cake. To increase the size of the cake, you need to focus on progress.
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If you look at the history of large financial institutions, most of them have succeeded because of a deep presence in their home market.
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I am a great believer in Indian entrepreneurship. There is a whole set of people doing so many exciting things.
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When I wear the hat of management, it is important that our management behaves and conducts as management accountable to the board.
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I do believe that banks are special - they are very leveraged institutions by nature; therefore, it's even more critical to ensure that the governance and the process of running a banking company are well-organised, managed and regulated.
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