There hasn’t been any major blow up in the financial sector since IL&FS crisis last September and early on in the current fiscal; there is still hope that a 7 per cent GDP growth is feasible, he said.
In its last hearing, the Bombay High Court posted the matter to March, 12.
The MD of Kotak Mahindra Bank said small businesses are in a difficult situation at present and has welcomed the government focus to revive the sector.
He was mainly flagging the issue of how regulators and retail investors think and the need for bridging the gap.
If you play for spirit, you run into problems.
The veteran banker felt that such boards in banks have a major leadership role.
Meanwhile, the new management Board also said that in order to keep the company afloat, it would require `100 crore per month.
In a Satyam Computers-style takeover, the government Monday had superseded the board of IL&FS and appointed a six-member board with Kotak as the non-executive chairman.
The government on Monday said that having a new board of IL&FS was the necessary first step towards restoring the confidence of the financial market in the IL&FS Group.
Only 'perverted Rahul Gandhi school of thinking' can call investment in IL&FS a 'scam': Arun Jaitley
Gandhi on Sunday attacked Prime Minister Narendra Modi over the alleged financial support of LIC to debt-ridden IL&FS and asked whether the prime minister "loves financial scams".
Shares of IL&FS group companies surged up to 20 per cent Monday amid the government moving National Company Law Tribunal (NCLT) for change of management at the crisis-hit firm IL&FS.
PM Modi will deliver the keynote speech at the plenary session of the World Economic Forum on 23 January.