Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the discussions:
- Mr Alok Jha, Managing Director Cyberplat India
- Mr Anil Kumar Gupta, Associate Director, Microsave-Financial Inclusion consulting
- Mr. Ravi Shankar, Co founder & CEO, Active Intelligence Pte Ltd.
- Mr. Riaz Maniyar, Founder & CEO at easy2lend.com
- Mr Vikas R Panditrao, Advisor Forum of Industry Academic Knowledge sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum
A lively discussion happened on the RBI’s decision that Uday Kotak has to dilute promoters’ stake. The questions on everyone’s mind are –
- Is this a correct step taken by the Regulators?
- As an entrepreneur, shouldn’t I have control over what’s happening in the company I have built over a period of time?
- How is banking different? What are the risks associated with individuals having full control of the Bank?
- Are banks like ICICI Bank or Public Sector Banks (PNB) which are managed / controlled by professionals successful?
A community member argues that the banking license was granted with all these conditions. Shouldn’t we read this as a breach of that? Though we can continue to bash the regulator, there are several things that they need to do which are systemically important for the financial market.
According to an experienced member, entrepreneurs who have built over a period of time have a vision and direction. They should be allowed to control with enough safeguards and checks.A leader in the community comes up in support of Kotak. It should be noted that RBI has brought up ownership issues when –
- With fantastic supervision from RBI, almost every PSU is in the red
- ILFS is going to roil the markets
- Global markets are in a precarious situation
Register and Read the entire discussions