Aditya Puri, Ex-CEO, HDFC Bank, explains how the foundation for the bank was laid two decades ago, with an idea to create a world class bank, that was fair and transparent. Puri, in a discussion with Business Today's Nevin John, shares how fortunate he was to have worked with a bunch of self-motivated people, who helped create a world class Indian bank. Watch the video for more.Also Read: Former HDFC Bank MD Aditya Puri joins biopharma company Strides as advisor

Aditya Puri, Ex-CEO, HDFC Bank, in an exclusive conversation with Business Today's Anand Adhikari, shared how HDFC Bank's digital transformation started and what security concerns were addressed while making those changes. Puri added that the response to their phone banking feature was phenomenal and that it would take 2-3 years for banks to move to cloud-based transactions completely. He also gives an insight into his role-change from operations to marketing at the bank. Also Read: Promoters inject Rs 2,021 crore in IndusInd Bank via conversion of warrants

RBI's recent order comes after it advised HDFC Bank to temporarily stop all new launches of digital business generating activities planned under its programme Digital 2.0 on December 3, 2020

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Plan submitted to RBI includes both short and long-term solutions, which may take up to three months to implement. HDFC Bank was barred from issuing any new credit cards on December 12, 2020, after a series of technical glitches

Aditya Puri said that he was looking forward to working with Kumar and building world-class institutions to produce high-quality affordable biotherapeutics and CDMO services

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The 70-year-old Aditya Puri, who spent over two-and-a-half decades as CEO & MD, banked on risk mitigation, technology and retail/rural outreach to create India's second-largest bank from scratch

As Kataria gets ready to take on the role of the global CEO of the footwear major, he says that the biggest lesson that the past few months of the pandemic has taught him is agility and speed

Banerjee noted that once we take on the view that banking sector needs more private ownership, restricting it to Indian ownership will be a mistake

\"We need larger institutions for sure,\" said Kamath. \"As a first step, the aspiration is to get to $5 trillion, but if you look at $10 trillion in the next 10 years, there is a step change that is required\"

Allowing big industrial houses in the banking sector has its own set of challenges

Following the cancellation of its licence, The Karad Janata Sahakari Bank has been prohibited from conducting the business of 'banking' which includes acceptance of deposits and repayment of deposits with immediate effect

CEO Vasant Kamath has estimated that there are about 2 million users and as much as Rs 50,000 crore has been transacted in smallcases

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Bharat Bandh will start tomorrow from 11 am to 3 pm. Members of farmers' unions will block national highways and occupy toll plazas, said Harinder Singh Lakhowal, general secretary of Bharatiya Kisan Union

An internal working group of RBI has recommended that large corporates should be allowed to set up banks. Aditya Puri says if credit, scale and regulations can be ensured, then allowing them is almost a necessity

The RBI has advised HDFC Bank to temporarily stop all launches of the digital business generating activities planned under its program Digital 2.0, other proposed business generating IT applications and new credit card issuance

Under Digital 2.0, there are also partnerships planned with technology companies and fintech players to offer seamless services