India’s Banking sector is at the centre of a push to get the economy back on track, working to ease stress on borrowers and stabilise the financial system, after a record GDP contraction of 23.9% in the June quarter. To discuss the way forward and reforms needed to boost growth, Uday Kotak, MD & CEO, Kotak Mahindra Bank, and President, Confederation of Indian Industry (CII), will be the guest at the Express e-Adda Thursday.
Veteran banker Kotak has played a crucial role in the development of the capital market and banking sectors. He has also been a part of several government committees, including that on corporate governance.
Two years ago, Kotak was entrusted with the task of turning around IL&FS after its board was superseded. In June this year, he took over as CII chief, and has been closely working with the government to revive the economy at a time when India has record foreign exchange reserves and surplus liquidity with banks.
In September, several key indicators, including automobile sales, power demand, toll collection and petrol consumption, reached the pre-Covid levels of February 2020, even as credit growth in banking remained muted. According to analysts, the recovery continues to hold in October.
Established in 1985, the Kotak Mahindra group has become a leading financial conglomerate over the years with operations in banking, insurance, mutual funds and broking businesses.
At the e-Adda, Kotak will be in conversation with Anant Goenka, Executive Director, The Indian Express, and P Vaidyanathan Iyer, Executive Editor-National Affairs, The Indian Express. The Express Adda is a series of informal interactions organised by The Indian Express Group and features those at the centre of change.
Union external affairs minister S Jaishankar, Union minister for road transport and highways and MSMEs Nitin Gadkari, Union minister for education Ramesh Pokhriyal, AIIMS director Dr Randeep Guleria, and former chief economic advisor Arvind Subramanian were guests at the E-Adda this year, as these discussions moved online during the pandemic.
Among prominent guests at past editions of Express Adda have been Union Finance Minister Nirmala Sitharaman, Nobel laureates Abhijit Banerjee and Esther Duflo, Chief Economic Advisor Krishnamurthy Subramanian, cancer specialist and Pulitzer Prize-winning author Dr Siddhartha Mukherjee, and cricketer Cheteshwar Pujara.