Uday Kotak

Uday Kotak, Vice-Chairman and MD of Kotak Mahindra Bank says the key would be the banking sector, adding, "the government will be making capital commitment for the public sector banks".

Speaking to CNBC-TV18, Kulamani Biswal, Director Finance, NTPC said over supply of low cost power hampered Q3 growth.

In the annual World Economic Forum held at Davos, Kotak told CNBC-TV18‘s Menaka Doshi that excessive leverage is hurting the Indian business deeply and the system needs to take corrective action against it.

Piyush Goyal, minister of power and coal, says UDAY is not a centrally directed scheme. It has been prepared in collaboration with all the states, bankers, consumer organisations, PSUs and hence was never made mandatory.

The Union Government may have come out with the UDAY scheme to bail out stressed state power distribution companies (discoms) but the scheme's plan to shift discoms' debt burdens to state governments is likely to throw their fiscal math off track.

CNBC-TV18 learns that individual state governments may be allowed to exceed their fiscal deficit target on a case-by-case basis to implement the scheme meant for reviving the ailing discoms.

Kushal Desai, MD of Apar Industries says that demand is picking-up in the power sector slowly.

According to a CNBC-TV18's poll, the key repo rate, cash reserve ratio and statutory liquidity ratio rates will remain unchanged in this policy. However, this will not be the end of the rate cut cycle.

Uday Kotak, Executive VC & MD, Kotak Mahindra Bank, says he expects a pause from the Reserve Bank Governor in the next policy meet.

Regarding the royalty issue with Cairn India in Rajasthan, Rajan said that the centre wants to hike revenue sharing to extend Production Sharing Contract (PSC) and is still in talks with with Cairn.

The whole idea behind Uday is a sustainable solution for the power sector for times to come, says Power Minister, Piyush Goyal.

Saying that discoms were trapped in a vicious cycle with operational losses being funded by debt and Ujjwal Discom Assurance Yojana (UDAY) will provide the financial support for their revival.

The bank has a total exposure of Rs 23,000 crore to this sector, of which loans worth Rs 12,000 crore are under the Fiscal Responsibility and Budget Management (FRBM) scheme, says Rakesh Sharma, Managing Director and CEO, Canara Bank.

In an interview with CNBC-TV18, Power Minister Piyush Goyal discussed the impact of the UDAY initiative that the central government unveiled today that will take the debt off struggling discoms books and transfer them to states' balance sheets.

Other income increased 4 percent to Rs 615.7 crore and operating profit shot up 75 percent to Rs 1,045 crore due to a 21.6 percent fall in operating expenses.

On the topic of repo rate cut, Uday Kotak said that the RBI has exceeded expectations and the mantle is now on bankers, government and business lobbies to deliver.

Kotak Mahindra head Uday Kotak believes the focus for the next few days will be on global flows. He adds that while India is fundamentally looking better, the pressure on outflows needs to be dealt with.

Speaking at the bank's 30th annual general meeting (AGM), Uday Kotak ,the executive vice chairman and managing director of Kotak Mahindra bank says 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.

In an interview with CNBC-TV18, Uday Kotak discussed the government's announcement today over its flagship infrastructure schemes, when he believes bank lending rates will come down and whether the worst of the NPA crisis is behind.

In an interview with CNBC-TV18‘s Shereen Bhan, Kotak Mahindra Bank vice chairman and MD Uday Kotak explained his oft-quoted take on the Modi electoral campaign‘s political catchphrase, acche din aane waale hain (good days will arrive), and what it will take to turn corporate earnings around.