Uday Kotak

When I wear the hat of management, it is important that our management behaves and conducts as management accountable to the board.

I have got nothing against family companies, but there must be real equity, that is all I say. It cannot be based on influence or political friendships. It has to be based on real equity backing their dreams.

Historically, in India, the strange fact was that the equity owner was not taking as much hit as the lender. Therefore, if we restore the first principle of economics, that first the equity owner needs to take the hit and then the lender, we will get a good solution.

Our entire approach to the banking and financial services business is risk-adjusted returns. We believe that in most parts of the world, and including pockets in India, banking tends to mis-price risk.

Culture is about the mindset of people, and we are very happy to have a strong combined mindset of people.

Our approach to banking is very different from the traditional banks or even some of the new banks. We do not necessarily go out and write single-cheque, large-ticket loans.

It's true that I have always been very comfortable with numbers.

I grew up in a joint family of 60 people with one kitchen. So I am a firm believer in the family concept.

I was not very keen on joining the family business... there were 14 family members working together, and it worried me that I would not have enough individuality.

I do believe that banks are special - they are very leveraged institutions by nature; therefore, it's even more critical to ensure that the governance and the process of running a banking company are well-organised, managed and regulated.

My view is that at a certain age - and we can debate whether that age is 70-72 or 75 - members need to step off boards. As per the banking guidelines, that age for the director on a board today is 70.

Technology is an enabler; you have to be at the cutting edge of technology - there is no choice.