Customer-focus and digital-first are the keys to survival and growth: Uday Kotak

2021-07-29 20:44:42

Even the Covid-19 pandemic leads to everlasting changes in the financial services sector, the Indian industry needs to stop kicking the can down the road and focus on sustainable growth, Uday Kotak the chief of said in his annual address to shareholders. Kotak also said with the winds of change growing, banks need to remain future relevant.

“The industry also needs to stop postponing the inevitable and kicking the can down the road,” Kotak said. “Upfront action with

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Will not shy away from taking bolder bets: Uday Kotak

2021-07-29 20:44:42

Even the Covid-19 pandemic leads to everlasting changes in the financial services sector, the Indian industry needs to stop kicking the can down the road and focus on sustainable growth, Uday Kotak the chief of said in his annual address to shareholders. Kotak also said with the winds of change growing, banks need to remain future relevant.

“The industry also needs to stop postponing the inevitable and kicking the can down the road,” Kotak said. “Upfront action with

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Joinwood Reality’s director Rajesh Agarwal buys Mumbai’s apartment at Rs 90 crore

2021-07-28 22:06:15

Rajesh Agarwal, director with Joinwood Reality Private Limited has purchased a penthouse at Sunteck’s Signature Island in Mumbai’s Bandra Kurla Complex (BKC) for Rs 90 crore, three people aware of the deal told ET.

Agarwal paid the stamp duty on March 31 and the deal was registered on July 23rd, as per the documents accessed by ET.

“Agarwal, who serves as a director in five companies in India, had paid Rs 2.7 crore as stamp duty for this

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Mukesh Ambani, Gautam Adani, 4 other Indians earned $45 billion in 6 months

2021-06-30 13:32:56

Despite the lethal second wave of Covid-19 pandemic, homegrown billionaires saw their wealth hitting new highs in the first half of 2021.

Data from Bloomberg Billionaire Index shows that half a dozen wealthy Indians, including Mukesh Ambani and Gautam Adani, added $44.75 billion in the first six months of 2021 to their fortunes.

Only two super-rich billionaires recorded a decline in their wealth. Their cumulative wealth erosion was close to $4 billion, according to the data.

The

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Maharashtra government taking calculated risk: Thackeray on easing of curbs

2021-06-06 17:54:45

Maharashtra Chief Minister Uddhav Thackeray on Sunday said the government was taking a “calculated risk” by relaxing the coronavirus-induced restrictions in the state, and added that people need to take care of themselves.

He made the statement during a virtual meeting with leading industrialists.

The state government has announced a five-level plan to relax the coronavirus-induced restrictions in the state from Monday, based on the weekly positivity rate and the occupancy of oxygen beds. A notification to this

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Indian economy will be back to pre-COVID levels by March 2022: Uday Kotak

2021-05-27 12:09:47

By end of March 2022, the size of the Indian economy will be the same in real terms as it was in March 2020. We saw the first year at around minus 8% GDP and the second year because of COVID 2.0 and its impact, the growth rate should be currently around 8% to 9% for this year, said Uday Kotak, MD, Kotak Mahindra Bank to ET Now. Edited excerpts:

We are talking at a time when

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Uday Kotak interview: ‘Indian economy needs fiscal support to grow’

The Indian economy is at a crucial juncture where the government has to decide when to open up. Covid-19 positive cases have come down, but the question remains whether we have vaccinated enough people and how prepared we are for a third wave, if there is one. The opening-up of the economy will depend on the progress of vaccination, peak capacity of supplies, and the ability to make Indians understand that precaution is essential, the outgoing president of the Confederation

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Adani adds more billions to his wealth than 19 peers, closing in on Ambani

NEW DELHI: Industrialist Gautam Adani has added more billions to his personal wealth in 2021 than 19 other Indian billionaires together!

Among the 20 Indian billionaires on Bloomberg Billionaire Index, Adani’s fortunes have risen by $35.2 billion in 2021 so far, compared with a $24.5 billion addition in the combined wealth of 19 other Indian billionaires.

Worth $69 billion as of today, Adani is trailing the richest Indian Mukesh Ambani ($77 billion) by only a few billions now.

Other than

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Payment defaults rise 50% in May for NBFCs

Payment defaults rise 50% in May for NBFCs

 

Ravaged by the second wave of the pandemic, non-bank lenders have seen a 50% rise in customers missing payments in the first fortnight of May, threatening to push up overall defaults to perilous levels.

Most non-bank finance companies (NBFCs) have been forced to stop door-to-door collections after several payment pick-up agents succumbed to the virus in the past six weeks or so.

Despite the Reserve Bank of India (RBI) allowing the recast of small loans, non-banks say they won’t

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RBI balance sheet expansion needed to fight virus: Uday Kotak

The covid-19 pandemic has brought India to a juncture where the Reserve Bank of India (RBI) might inevitably have to expand its balance sheet to support the economy, veteran banker Uday Kotak said.

Such an expansion is a serious option when the country is trying to save lives and livelihoods, said Kotak, the promoter and chief executive officer of Kotak Mahindra Bank, on Monday.

“I believe we have come to a time when we will have to be much more

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CII Calls for Strongest National Steps, Curbs on Economic Activity

New Delhi: Industry body CII has urged the government to take “strongest” national steps including curtailing economic activity to contain the spike in COVID-19 cases in the country. CII President Uday Kotak has asked for highest-level response measures to address the rising wave of COVID-19 cases, as currently safeguarding lives is key to cut the transmission links.

“The healthcare infrastructure and supply build-up are being undertaken on an emergency basis by the governments at the centre and states, but will

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