Key takeaways from Kotak Mahindra's 30th AGM

The history of excess leveraging by Indian corporates has put sections of the Indian banking system at risk, cautions ace banker, Uday Kotak. On a positive note, he said India had been in a euphoric phase in the last one year as country's macroeconomic signals have become stronger and stable. Kotak, Executive Vice-chairman and Managing Director of Kotak Mahindra Bank, said there has been some action since the Modi government came into power but it is time people lowered their expectations.

Speaking at the bank's 30th annual general meeting (AGM), the first ever after Kotak's merger with ING Vysya, Kotak said market watchers should not look for steroids as the India marathon story is already playing out. He said there is significant capacity for the combined firm, post merger with ING Vysya.

Addressing the shareholders, Kotak said he expects private and public sector banks to be at par with respect to savings and deposits in the next 10 years.