Uday Kotak feels bankers need humility to make it big

Kotak Mahindra Bank MD Uday Kotak has gained from some Mantras personally and professionally. Which he is sharing here.

1. Uday Kotak features permanently on the billionaire list, but the Kotak Mahindra Bank MD credits the middle-class values that he has grown up with for his personal and professional growth.
2. He says that the most important thing which he learnt in life is common sense and middle-class values. And that is our core values of all of us.
3. During the talk, Kotak referenced a question put to him at the World Economic Forum last year was “What will the bank of the future be? The bank of the future needs three human qualities:
   1. First is prudence, which means no excessive leverage.
   2. Second are no complex products, so simplicity.
   3. And third, humility since bankers believe they are ters of the universe because they manage other people’s money
   4. The fact is exactly opposite as per Kotak
4. Kotak said that not only does he personally believe in these three values, he stresses on them even for the running of his company. “Banking is a highly leveraged business. And therefore, bankers need humility. That’s why the three qualities — prudence, simplicity and humility — are crucial, certainly for banking and for anything in our day to day lives,” he said.
5. Addressing concerns about the current economic environment in the country, Kotak said it was going through a cleansing and purging process. “Business in India happened in a particular manner for a long time. The rules of the game were different. They have changed. Business, in general, has taken a little longer time to recognise the new rules of the game. It is moving towards survival of the fittest,” he said.