Kotak said India lacks risk capital, and access to such capital will not come easily unless lenders, savers and investors trust firms
The new board of Infrastructure Leasing and Financial Services (IL&FS) expects to recover close to 50 per cent of the firm's overall debt, which stands at above Rs 94,000 crore
Arun K Saha, erstwhile joint MD & chief executive officer (CEO), took home a hefty remuneration of Rs 6.88 crore for FY19. He was also a whole-time director of the subsidiaries and group companies.
Overall, the total wealth of the tycoons on the 2019 Forbes India Rich List shrank 8 per cent to $452 bn from a year ago
They said in the current environment, they are forced to follow the rules in letter and not in spirit
Aadhaar-based KYC will be the future of banking, says Nilekani
The RBI asked Kotak to lower his holding in the bank to 30 per cent by end-June
The Kotak Mahindra Bank chief also pitched for an 'exit mechanism' for the sector
The banking sector is currently awaiting entry of many differentiated-licence banks such as payments and small finance banks
Kotak said both debt recovery tribunals and debt recovery appellate tribunals are "bottlenecks" that take time
57-year-old Kotak is ranked 33rd in the Forbes list of 'Money Masters: The Most Powerful People In The Financial World'