Uday Kotak Quotes
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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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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.
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The government should move towards supporting aspirations and not entitlement. Subsidies supporting non-productive growth should be reduced.
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Culture is about the mindset of people, and we are very happy to have a strong combined mindset of people.
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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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A weaker currency is a national tariff. After we get a weaker currency, we have to take advantage of that. Or else, we will waste it once more in inflation and in the inability to raise competitiveness.
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It is possible that the digital world may change the need for physical branches. We will continue to add branches incrementally, but we will reach a point - whether it is 1,500, 1,800 or 2,000 branches - where we will say enough is enough.
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My view is make Indian manufacturing competitive, and if it is competitive, it can serve customers or consumers anywhere.
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I have got nothing against family companies, but there must be real equity, that is all I say. It cannot be based on influence or political friendships. It has to be based on real equity backing their dreams.
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Younger customers are the future, but older customers have the money. So you need both: one for the present, and the other for the future.
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We are going to position ourselves as a world-class financial institution. We want to do things that are comparable to the best in the world. At the same time, we want to have very strong human qualities.
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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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If India grows steadily and does the structural things right and carefully unties knots, builds an institutional process which sort of cleans up the corruption and the baggage in the system, I see it as a wonderful marathon.
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If you look at 2009, why did the recovery happen? Recovery happened because somebody in the world's largest economy opened the tap: the U.S., followed by Europe and now Japan.
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Our view is that younger customers love our digital offering, our mobile banking applications and so on. Older customers expect relationship managers and want much more personal attention in terms of their needs.
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There's no harm being a copycat. If someone else is doing a good job, copy. It's free.
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I was not very keen on joining the family business... there were 14 family members working together, and it worried me that I would not have enough individuality.
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For me, the real thing is make, serve and list in India. Which means we need manufacturing, we need services, and we need financial markets.
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Foreign investors are looking for a consistent and stable policy in India.
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The single biggest resource India has is people and skill.
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As we were all growing up, there used to be a very big mantra in India which was called 'export or perish.' There was a long period when we used to focus on import substitution.
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My view is that at a certain age - and we can debate whether that age is 70-72 or 75 - members need to step off boards. As per the banking guidelines, that age for the director on a board today is 70.
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We encounter very healthy boardroom debates and pretty diverse views, so we have always had the benefit of diversity of opinion and expression before we take some important calls.
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My view is that the bitcoin is in its very early days, and it is an artificial currency. But whether it is creating new money, whether it is sustainable, whether it would survive - I have many questions about it.