India does not have a problem of people grabbing share from a fixed pie. India is one of the few nations where the pie is getting bigger.
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Every industry, as it comes to a certain level of maturity, there is consolidation. In that consolidation, some fall, but the men will always be there. It is the boys that get sloughed, I would say.
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There is potential for more Chinese investment in India's infrastructure, and there are already Chinese investors in India's power and telecoms sector as well as the banking and payments space.
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Competition is always there.
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One of my main agenda right from the beginning has been cost rationalization, and we have done a lot of cost rationalization.
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Once you have set the goal, give your staff the space to get there. If you micromanage, you will be able to do very little.
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A maturing process, and growth, is always painful. You ask any teenager, they will tell you, and it's just like that for the country. We need to grow; we need to evolve.
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You cannot take bank interest rates very sharply down: you will lose your deposit franchise.
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India has a very young population which is comfortable doing business on a screen than do it one on one with a banking executive. They want quick fulfilment of desires, and may not have the time to go to a bank to get things done. Many of them are comfortable working from home.