Business News: Vellayan Subbiah, chairman of Cholamandalam Finance and executive vice chairman, Tube Investments of India, has been awarded the esteemed EY Entrepreneur of the Year™ Award 2023.
KV Kamath emphasizes the need for correction in NIMs and a reduction in the cost-income ratio for banks to remain competitive and benefit borrowers. He believes that the financial sector will play a crucial role in India s long-term growth story. Trust and convenience are key factors that banks must focus on, along with effective execution. While the top five banks are expected to remain strong, new entrants face challenges in replicating their established base.
While Narayana Murthy said he has no regret for his previous statement, he said he did not think 70 hours was important. "All that it means is you have to be very productive."
Several large progressive-minded companies following good governance practices are also looking to send a message to investors about a transparent culture and mindset, experts said.
KV Kamath was appointed as independent director of Reliance Industries for 5 years in 2022. Mukesh Ambani also trusted Kamath for the position of chairman at Jio Financial Services.