Hemindra Hazari, Independent Analyst: It is unusual. It introduces a political dimension and political risk. Business, especially for banks which are highly leveraged and manage public monies, tend to get identified with parties if their promoters publicly support one party or another, so I feel they should publicly remain apolitical. Uday Kotak publicly backed Modi during demonetisation and now that BJP’s electoral prospects are looking doubtful, he is backing the Congress party.
Take two old private banks, of similar backgrounds. One embarks on an ambitious, disruptive strategy of nationwide expansion; the other remains stuck to its...
“This government supports Adani and will not allow any harm or any detriment to come to it,” said Hemindra Hazari, a Mumbai-based independent expert...