Ashok Vaswani: India’s Banking Sector Is Now Stronger Than Ever

In an exclusive conversation with Siddharth Zarabi, Editor of Business Today, Ashok Vaswani, CEO of Kotak Mahindra Bank, reflected on the transformative journey of Indian banking. Vaswani highlighted the remarkable progress made under the guidance of the Reserve Bank of India (RBI). Recalling the banking landscape in 1987, he noted how services like car loans, once considered groundbreaking, have now evolved into seamless, efficient processes. He commended the RBI for effectively steering the sector through challenges, including the NPA crisis and the COVID-19 pandemic, while fostering financial inclusion and innovation. Vaswani emphasized that India’s approach of opening up financial services on its own terms has been pivotal, and he anticipates further advancements in the sector’s evolution. Indian banking, he believes, is poised for continued growth, reflecting the resilience and adaptability of the system.