Uday Kotak: Latest News

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26.12.2021 / 11:15

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Omicron: Is Covid pandemic becoming endemic; Here's what Uday Kotak has to say

SARS-CoV-2virus is not going away.

Uday Kotak India pandemic Racing reports

Uday Kotak bats for central bank balance sheet expansion to fight covid

Uday Kotak said on Monday.Kotak, the promoter and chief executive of Kotak Mahindra Bank, said that when the nation is trying to save lives and livelihoods, such an expansion is a serious option.“I believe we have come to a time when we will have to be much more open to expand the balance sheet of the central bank and I think the RBI has given the signal through the G-SAP programme," Kotak said. He was referring to the Reserve Bank of India’s plan to purchase ₹1 trillion of sovereign debt papers from the secondary market in the first three months of 2021-22.The G-SAP programme is also the first time RBI is committing its balance sheet for the conduct of monetary policy, as RBI deputy governor Michael Patra said on 7 April.

Uday Kotak India covid-19 economy Government

Govt to ramp up Remdesivir production to 78 lakh vials/ month amid Covid surge: Sitharaman

₹4,600 crore to Serum Institute of India and Bharat Bio Tech, to help them ramp up capacities.Welcoming the CII suggestions on mitigating the impact to the economy to save livelihoods, alongside lives, the Finance Minister assured an examination of the same.Earlier, Mr Uday Kotak, President CII and Managing Director & CEO, Kotak Mahindra Bank Limited in his opening remarks lauded the speed of Government’s policy action, for tackling the COVID-19 pandemic, over the last 72 hours. Mr Kotak emphasised on the importance of vaccination and doing whatever it takes to ramp up vaccination.

Uday Kotak India president vaccine economy

Multiple bad banks needed to solve NPA problem: CII

CII) has urged the government to consider setting up “multiple bad banks" to address the problem of mounting non-performing assets (NPAs) of state-owned lenders, which has worsened due to covid-led disruptions.A ‘bad bank’ buys the bad loans of other lenders and financial institutions to help clear their balance sheets.“In the aftermath of covid, it is important to find a resolution mechanism through a market-determined price discovery. With huge liquidity, both globally and domestically, multiple bad banks can address this issue in a transparent manner and get the credit cycle back in action," CII president Uday Kotak said in a statement.Also Read | Inside the rumble in India’s coding jungleThis is the latest proposal on bad banks.

Uday Kotak India president Government Health

India under-invested in healthcare, should double spends: Uday Kotak

MUMBAI : Banker Uday Kotak on Thursday said India is under-invested in healthcare and needs to double its spends over the present level of 1.3 per cent of GDP.Kotak, who is also the president of industry chamber CII, said the government's response to the pandemic has underlined the need for better coordination between the Centre and the states.Speaking at an event organised by Bloomberg, Kotak said, "We need to increase our spends (in healthcare) from 1.3 per cent to at least more than double, because we are very under-invested in healthcare" and also increase the efforts on education.The country will have to find the resources over the medium term for these two areas because it is a necessity for its long-term prospects, he

Uday Kotak India city Mumbai president pandemic Government

Uday Kotak not averse to takeover of weak businesses during covid crisis

NEW DELHI : Newly elected CII president Uday Kotak has said he was not averse to the idea of takeover of weak businesses by financially strong entities as long as it is in the interest of investors.Why should an investor be barred from selling his investments, which are currently hammered on account of coronavirus pandemic, Kotak said, adding the decision on taking a call should be left to the investor.However, he said, the government could take steps to prevent and protect domestic India businesses from predatory takeover from the investors belonging to certain specific nations because of strategic reasons."Is this money coming from countries where we have a strategic level issue, then it's a very separate issue by itself.

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Nothing should be done to hurt interest of depositors: Uday Kotak

NEW DELHI : The banking laws are aimed at protecting depositors and nothing should be done to jeopardize their interest, newly elected CII president Uday Kotak has said, as the Supreme Court looks into the matter of interest waiver during moratorium period.Terming banks as converters, the seasoned banker said, depositors' money is lent to borrowers and money earned from borrowers are paid as interest to savers."The Banking Regulation Act is an Act made primarily for protection of depositors' money.

Uday Kotak city New Delhi India president Government crisis Coronavirus

India banks need capital to face coronavirus pandemic, says Uday Kotak

MUMBAI : India should prepare to inject capital into state banks and private-sector lenders need to strengthen their balance sheets, to help bolster the economy against the coronavirus pandemic, according to a senior banker.“I do believe the government will have to be ready to support public sector banks with capital," said Uday Kotak, the billionaire founder of Kotak Mahindra Bank Ltd.A legacy of bad loans, a shadow banking implosion and a historic bank bailout in March have left Indian lenders weakened coming into the lockdown, which has stalled the economy and led to a surge in unemployment.

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Interest waiver may disturb banks' asset-liability balance: Uday Kotak

MUMBAI: Wading into the debate over interest waiver during moratorium, Uday Kotak, managing director and chief executive of Kotak Mahindra Bank, on Thursday said lenders are not in favour of the move as they must balance the interest of both borrowers and depositors.

Uday Kotak India city Mumbai covid-19 pandemic Government

Will the Kotak Mahindra Bank stock fly as tiff with regulator ends?

MUMBAI: With the standoff between its promoter and the sector regulator now resolved, the overhang on the Kotak Mahindra Bank stock has now lifted.

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Uday Kotak calls for extraordinary efforts with speed

Uday Kotak also stressed on the need for large scale testing of people for identifying symptoms of Coronavirus

Uday Kotak India testing economy Government symptoms Coronavirus

Credit rating is matter of opinion: Uday Kotak on Moody's downgrade

NEW DELHI : Not seem to be convinced with India's sovereign rating downgrade by Moody's, Kotak Mahindra Bank managing director Uday Kotak on Tuesday said credit rating is a matter of opinion.

Uday Kotak city New Delhi India economy Government crisis

₹6,800 crore stake, stalemate with RBI ends

Uday Kotak had once moved before the Bombay High Court in December 2018 against RBI’s diktat on promoter holding in banks.

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Stocks to Watch: Kotak Mahindra Bank, Hero MotoCorp, RIL, Tata Power, Eicher Motors

NEW DELHI : Here’s a list of top stocks that may be in news on Tuesday:

Uday Kotak city New Delhi India covid-19 Government

With a provision shield on, Kotak Mahindra Bank scouts for worthy borrowers

It was not a surprise that the bank chose to take a hit on its net profit by setting aside ₹1047 crore provisions including ₹650 towards specific risks arising out of the covid-19 pandemic

Uday Kotak covid-19 pandemic crisis

Mukesh Ambani’s net worth drops 28% to $ 48 billion in 2 months: Report

Mumbai: The net worth of India’s richest man Mukesh Ambani dropped 28 per cent or USD 300 million a day for two months to USD 48 billion as on March 31 due to the massive correction in stock markets, a report said on Monday.

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₹50 crore to PM-CARES Fund

NEW DELHI : In the wake of COVID-19 pandemic, Kotak Mahindra Bank and its Managing Director Uday Kotak pledged immediate support of ₹50 crore to the PM-CARES Fund. "Kotak Mahindra Bank and Uday Kotak personally commit immediate support of ₹50 crore to PM-CARES Fund ( ₹25 crore each)," said Kotak Mahindra Bank on its Twitter handle.

Uday Kotak city New Delhi India covid-19 pandemic

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0