The entrepreneur who takes a risk needs to be respected, said chairman and Managing Director of Hindustan Construction Company at FE Best Banks Awards held on Monday in Mumbai. Since such businessmen cannot ever fund everything on their own, there is a need to create confidence in them, says Ajit Gulabchand. Speaking further, he said that honouring of contracts is a problem and that has to be rectified by better practices to create confidence that this business is risky but also has its rewards, he added. Earlier, IndusInd Bank’s Romesh Sobti said that even as GST, demonetisation and IBC caused readjustment, these were essential for economy. On slowdown, he said that the government is taking strong measures to tackle the issue. Meanwhile, the award ceremony saw the presence of the country’s leading banks, NBFCs, small finance banks and fintechs. While Romesh Sobti, CEO and MD, IndusInd Bank, will take home the Lifetime Achievement Award, Sanjiv Bajaj, MD and CEO, Bajaj Finserv, will be awarded the Banker of the Year award for 2017-18. Similarly, State Bank of India (SBI) will get the award for the best home loan product (long tenors). Kotak Mahindra Bank has been awarded the best savings bank product for the second year in a row. HDFC Bank, HSBC and Indian Bank will also get awarded.
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