FE Best Banks Awards HIGHLIGHTS: Need to respect entrepreneur who takes a risk, says HCC’s Ajit Gulabchand

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Updated:Sep 30, 2019 8:30:28 pm

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.

State Bank of India (SBI) will get the award for the best home loan product (long tenors).

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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Highlights

    20:20 (IST)30 Sep 2019
    India's goal is to become a more efficient, predictable economy, says Rajiv Lall

    Intent of the government is very clear - it is the reset set the rules of the game. Our goal is to become a more efficient, predictable economy but this requires time and then we will see resurgence of growth, says Dr Rajiv Lall.

    19:50 (IST)30 Sep 2019
    Need to respect the entrepreneur who takes a risk: Ajit Gulabchand

    Need to respect the entrepreneur who takes a risk. They cannot ever fund everything on their own. Too many other issues have cropped up. Need to create confidence, says Ajit Gulabchand.

    19:44 (IST)30 Sep 2019
    Takes five years to set up an infra project, another five years to start earning, says Seshagiri Rao.

    It takes five years to set up an infra project and another five years to start earning. This takes a long term investment. Intermediation of our internal savings is very essential,s aid Seshagiri Rao.

    19:43 (IST)30 Sep 2019
    Greenfield in India will take a very long time, says Seshagiri Rao

    Greenfield in India is like a caterpillar - who will want to invest in the caterpillar? But without a caterpillar, how do you get the butterfly, says Rashesh Shah. Greenfield in India will take a very long time, says Seshagiri Rao.

    19:42 (IST)30 Sep 2019
    Honouring of contracts is a problem, says Ajit Gulabchand

    Honouring of contracts is a problem and that has to be rectified by better practices to create confidence that this biz is risky but it also has its rewards, Ajit Gulabchand

    19:31 (IST)30 Sep 2019
    Reducing yields good for India, says Rashesh Shah

    The best thing that has happened in India is that yields have been coming down. We have created great equity, infrastructure over the last many years, says Rashesh Shah.

    19:28 (IST)30 Sep 2019
    Main issue is better consensus and understanding about what should be the responsibility of pvt, public banks, says Rajiv Lall

    I don't think the issue is bank versus bond market. The issue is a better consensus and understanding about what should be the responsibility of pvt and public banks, says Dr Rajiv Lall

    19:22 (IST)30 Sep 2019
    Welcome discussion by FM & team every week, says Sanjiv Bajaj

    Welcome discussion by FM & team every week, seen some quick measures. Hope this happens on a regular basis - this is a healthy engagement, says Sanjiv Bajaj.

    19:19 (IST)30 Sep 2019
    Predictability & accountability a necessity: Rajiv Lall

    Predictability & accountability a necessity. Secondly, a commitment to supporting improvement of govt apparatus for nurturing biz & continuing support from govt to rationalise PSBs: Dr. Rajiv Lall in panel discussion.

    19:18 (IST)30 Sep 2019
    Along with liquidity, we need optimism, says Rashesh Shah

    Along with liquidity, we need optimism, says Rashesh Shah. The government is taking measures to create optimism, he added.

    19:12 (IST)30 Sep 2019
    Lines between NBFCs and banks are fast blurring: Sanjiv Bajaj, MD, Bajaj Finserv

    Thank you for this award. It shows that the lines between NBFCs and banks are fast blurring. We are very much at the starting line. Our teams are focusing on good quality, long term business: Sanjiv Bajaj, MD, Bajaj Finserv.

    19:11 (IST)30 Sep 2019
    New way of doing biz and compliance began with demonetisation. says Romesh Sobti

    A new way of doing biz and compliance began with demonetisation, followed by a series of reforms such as RERA, IBC and GST - we all had to rethink our biz models. I feel these were essential: Romesh Sobti.

    19:07 (IST)30 Sep 2019
    GST, demonetisation disrupted economy, but for right, says Romesh Sobti

    'Last 5 years, I have seen compression of change happening at very rapid rate owing to governance reset that applies to all sectors of economy. GST, demonetisation, IBC caused readjustment of economy. But these were essential for economy. Talking slowdown, it's is cyclical. The government is taking strong measures to tackle the same. In terms of banking, I see role of PSU banks emerging. The banks are getting prepared to take challenge of $5 trillion economy," Romesh Sobti said.

    19:01 (IST)30 Sep 2019
    Romesh Sobti bags Lifetime Achievement Award

    Romesh Sobti, CEO and MD, IndusInd Bank, will take home the Lifetime Achievement Award.

    18:55 (IST)30 Sep 2019
    Sanjiv Bajaj of Bajaj Finserv got Banker of the Year award for 2017-18.

    Sanjiv Bajaj, MD and CEO, Bajaj Finserv, walked away with the Banker of the Year award for 2017-18.

    18:53 (IST)30 Sep 2019
    Indian Bank also bags award

    Indian Bank bagged award in best private bank category along with HDFC Bank and HSBC.

    18:52 (IST)30 Sep 2019
    Check the jury members

    The winners have been chosen by a high-powered jury chaired by S Ramadorai, former chairman, Tata Consultancy Services (TCS), and a team comprising R Shankar Raman, director & CFO, Larsen & Toubro, Leo Puri, former managing director, UTI Asset Management, Biswamohan Mahapatra, former executive director, Reserve Bank of India, and Sharad Sharma, founder, Ispirt. Helping with some detailed research and number work was a team from EY.

    18:51 (IST)30 Sep 2019
    HSBC best foreign bank

    HSBC India best bank in foreign bank category

    18:51 (IST)30 Sep 2019
    Axis Bank best digital bank

    Axis Bank, which has two fintech subsidiaries, was declared the best digital bank for the second year in a row.

    18:50 (IST)30 Sep 2019
    UPI, NPCI feliciatetd

    UPI, NPCI  also received the award. Also, Equitas Small Finance Bank bagged an award in small finance bank space.

    18:48 (IST)30 Sep 2019
    RazorPay, CreditVidya, LoanFrame and Acko General Insurance won awards in fintech space

    Among the fintechs, RazorPay, CreditVidya, LoanFrame and Acko General Insurance were chosen for the initiatives they have taken in their respective areas and for the promise they hold out.

    18:46 (IST)30 Sep 2019
    RazorPay gets award in fintech category

    In category of fintech, RazorPay gets the award. CreditVidya was also awarded in the same category.

    18:45 (IST)30 Sep 2019
    Bajaj Finserv gets banker of year award

    Sanjiv Bajaj, MD and CEO, Bajaj Finserv, will walk away with the Banker of the Year award for 2017-18.

    18:44 (IST)30 Sep 2019
    Kotak Mahindra Bank wins award for best savings bank product

    Kotak Mahindra Bank won the award for the best savings bank product for the second straight year.

    18:42 (IST)30 Sep 2019
    SBI wins award for best home loan product

    State Bank of India (SBI) will get the award for the best home loan product (long tenors).

    18:41 (IST)30 Sep 2019
    FM Nirmala Sitharaman to presnet award

    Finance Minister Nirmala Sitharaman on stage along with Viveck Goenka to hand over awards to winners.

    18:39 (IST)30 Sep 2019
    Fintect will help realise PM Modi's digital dream

    In line with prime ministers to give more money to MSMEs, fintech will lead the way, says Viveck Goenka is the Chairman, Managing Director and Editorial Director of the Indian Express Group.

    18:23 (IST)30 Sep 2019
    Kotak Mahindra Bank bags award for best savings bank product

    Kotak Mahindra Bank won the award for the best savings bank product for the second straight year.

    18:16 (IST)30 Sep 2019
    Romesh Sobti to be honoured with Lifetime Achievement Award

    Romesh Sobti, CEO and MD, IndusInd Bank, will carry home the Lifetime Achievement Award, while Sanjiv Bajaj, MD and CEO, Bajaj Finserv, will walk away with the Banker of the Year award for 2017-18.

    18:15 (IST)30 Sep 2019
    FE Best Banks Awards to start soon

    FE Best Banks Awards will begin at 6:30 pm on Monday in Mum