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Representational image | File photo of people in a queue for Covid vaccines in Gurugram | PTI

Indian companies are going out of their way to help employees ‘heal’ in Covid crisis

Several Indian companies' management had initially opposed lockdowns, which would hurt output and profits. However, the destruction's scale and vaccine shortage forced a shift.
Uday Kotak

Banker Uday Kotak urges Modi govt to consider lockdown to tackle India’s Covid crisis

The statement by Kotak on behalf of Confederation of Indian Industry is a shift for the body whose members had in April indicated they were against lockdowns.

Kotak Mahindra shares fall after RBI caps founder-CEO Uday Kotak’s tenure

Kotak Mahindra Bank’s shares fell 1.5% in Mumbai at 1:29 pm in comparison to a 0.6% rise in a gauge of banking stocks.

How Uday Kotak became world’s richest banker with $16 billion wealth after brush with death

A cricket ball that hit Uday Kotak in the head & led to an emergency surgery pushed him to abandon dream of becoming a professional player and get into finance.
Finance Minister Nirmala Sitharaman with CII chief Uday Kotak | File photo: ANI

Reduce stake in PSU banks to 50%, provide job incentives to firms — CII’s wishlist for Budget

The industry body headed by Uday Kotak has made the suggestions to Finance Minister Nirmala Sitharaman as part of pre-Budget consultations
A motorcyclist wearing a protective mask rides past a Kotak Mahindra Bank Ltd. branch on a near-empty street in Mumbai, India. | Photographer: Dhiraj Singh | Bloomberg

How Kotak Mahindra Bank, IndusInd merger stacks up in numbers

The combination would boost its assets to Rs 7 lakh crore and cement Kotak’s position as India’s fourth-largest private bank, closing the gap with Axis Bank Ltd.

Best time to invest in India is now, banker Uday Kotak says as he lists 5 ‘right sectors’

Banking sector ripe for significant structural change, market share of India's private sector banks will rise to about 50% over next decade, says Asia's richest banker Uday Kotak.
HDFC chairman Deepak Parekh | Photo: Flickr

Don’t extend loan moratorium, allow one-time restructuring — HDFC chief Deepak Parekh to RBI

CII chairman Uday Kotak also pitches for one-time loan restructuring — as was done in the aftermath of the global financial crisis of 2008.

Off The Cuff with Uday Kotak

Uday Kotak, MD and CEO of Kotak Mahindra Bank and President, Confederation of Indian Industry was the guest at ThePrint's Off the Cuff. In a conversation with ThePrint's Editor-in-chief Shekhar Gupta, Kotak said India needs to spur private investment after years of disproportionately relying on government expenditure for economic growth. Kotak firmly opposed waiving off interest on loans under moratorium pointing out that this will mean that even depositors are not paid interest for their deposits. Kotak said he interprets Prime Minister Narendra Modi's call of an AtmaNirbhar or self-reliant Bharat to mean a competitive India engaged with the world and not necessarily protectionism. He also made a case for India to target a sustainable medium-term growth.
Uday Kotak

Govt’s immediate priority has to be to address loss of lives and livelihoods: Uday Kotak

Speaking to ThePrint’s Editor-in-Chief Shekhar Gupta at Off The Cuff, Kotak Mahindra Bank MD & CEO Uday Kotak said govt could explore direct cash transfers route if needed.

On Camera

YouTurn

If anything is Angela Merkel’s legacy, it is her custodianship of the liberal world order

Whereas most other world leaders are “men of action” who go off like proverbial firecrackers when crises emerge, Merkel preferred to do her homework.

Bitcoin, Ether tumble as China declares all cryptocurrency transactions illegal

London: Bitcoin, Ether and other digital tokens tumbled as China intensified its push to rein in crypto speculation and mining. Bitcoin fell 7.8% to $41,220 as of 7:41 a.m. in New York. The losses were more severe in other coins, with Ether, EOS, Litecoin and Dash all falling more than 7%. Crypto-related stocks also came under pressure, with Marathon Digital Holdings Inc. tumbling 6% in U.S. pre-market trading. China’s central bank said all cryptocurrency-related transactions are illegal, according to a Q&A statement on PBOC’s website. It’s an urgent task for China to root out crypto mining and the crackdown is important to meet carbon goals, according to the guidelines on the website of the nation’s economic planning agency. Bitcoin looks headed toward the $40,000 level or lower, Fawad Razaqzada, an analyst at ThinkMarkets, warned. China’s strict approach is part of the reason why Bitcoin prices collapsed in May and have struggled to regain previous all-time highs above $60,000. “The risks are skewed to...

Defence

Union Defence Minister Rajnath Singh speaks during the induction of a medium-range surface-to-air missile system (MRSAM), in Jaisalmer on 9 September 2021| PTI

Rajnath Singh talks ‘lessons’ from Taliban takeover, hits out at ‘irresponsible states’

Defence Minister Rajnath Singh says turmoil in Afghanistan and the region is a result of 'aggressive designs and active support to non-state players'.

Does India matter? Yes, Kamala Harris’s ‘sermon’ to Modi reminds him why

Democracy is the most important of the 3 Ds Modi keeps listing. If that is damaged, India’s most powerful PM in five decades also gets publicly admonished, if gently, by US V-P.
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