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.
Ashok Hinduja, chairman, IndusInd International Holding, told the press recently:
"Could you have as a promoter taken steps to avert the crisis at IndusInd Bank?
Money...
Take two old private banks, of similar backgrounds. One embarks on an ambitious, disruptive strategy of nationwide expansion; the other remains stuck to its...