Chanda Kochhar

The consolidation that we started in 2009 was clearly the requirement of that time. ”

My priorities are going to be to play a very balanced role in the sense that I have to keep an eye on the challenges in the environment. At the same time, I have to keep an eye on the optimism that is there for India. ”

Every business has to re-think their own business model and say does it meet this DSM test and do their products and services meet the test of being digital, social, and mobile? I think the banks are doing the same. ”

If we look at India and the Indian demographics and the Indian consumer, I think the Indian consumer is going digital, social, and mobile. They want everything in a digital format, everything available on the go, and we socially connected. ”

One thing I would say about the Indian consumer is that as much change and as much technology, innovation that you offer to the Indian consumer, the Indian consumer is very receptive and actually keep expecting more, and we have had that great experience. ”

I use my interaction with both my kids to know how the youth today relates to technology, their expectations in terms of mobility and social solutions by customer services-oriented businesses like banking. ”

We believe the new banks will complement the existing banking system, and there will be opportunities for players to identify mutually beneficial partnerships. ”

Rather than worrying about entities, we should worry about the trends in technology that may cause disruptions... if we get so paranoid that banking is no longer going to exist and banks are going to get disrupted, I think that is a different worry. ”

Moving from corporate banking to retail banking to international banking to supervisory roles has meant completely reinventing myself. ”

If you take existing ideas and make them affordable and scalable, you substantially change business models. India lacks an education system that is research- and creativity-oriented. ”