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Jay Kotak said that the banking panorama of India is being transformed through digitalization, UPI, Aadhaar, and changing consumer expectations, emphasizing that banks must intensify the client’s commitment to stay competitive.
Jay Kotak, Co-Cabeza de Kotak 811 and senior vice president of Congena Relations in Kotak Mahindra Bank, at the CMM Bharat CNN-News18 Rising Bharat 2025. (Image: News18)
Indian Banking is undergoing sixmic shift driven by Digitization, Upi, Aadhaar, and Changing Consumer Expectations, Said Jay Kotak, co-co-co-de kotak 811 and senior vice president of conglomegaAtrelratiSHIPS at Kotak Mahindra Rising Bharme Rising Bharmit Bharmit Bharmit Bharmit Bharmit Bharmit Bharmit Bharmit Bharmit Rising Bharat Rising Bharta-Sevs18 Rising Bharta-Sevs18 Rising-Sevs18 Rising-News18 Rising-Sevs18 Rising-Sevs18 Risings that traditional banks must improve customer participation to stay competitive against Fintech disruptors.
Speaking the discussion panel Zest Zest: The Indians of the New EraKotak said that generalized mobile telephony, affordable devices, AADHAAR, Disassembly and COVID-19 pandemic had collectively accelerated financial innovation in India. “Customers are now much more demanding about how their financial institutions serve them,” he said.
Kotak also responded to a recent comment from Uday Kotak, founder and former CEO or Kotak Mahindra Bank, and Jay’s father, who said that many heirs of family businesses today prefer investments instead of managing operational businesses. By emphasizing the need for the next generation to be more practical, Jay Kotak said: “Where India is today, the next generation should bow towards operation.”
His comments came in the context of a broader debate caused by Uday Kotak, who recently said that the next generation of business families in India was the speculation of the prioritization stock market and the management of assets on construction and business career.
Drawing a parallel with the United States a century ago, Jay Kotak said that in the first days of American industrialization, the sons and daughters of the largest industrialists actively participated in the companies in operation. It was only after several generations that the trend changed towards the management of investments and financial portfolios. “It’s only now, many generations later, that people turn more on the investment side in the US.”
Shashwat Goenka, vice president of the RP-Sanjiv Goenka group, offered a more nuanced perspective, arguing that operational leadership and strategic investment can go hand in hand. “It is not or you can do both,” he said. Goenka emphasized that although it is important to participate in activation in operational roles to stay connected to customers, supply chains and markets, it is equally crucial to invest strategically and increase family wealth. “Today, the wealth creation opportunities that are available make it important to incubate startups and invest intelligently, while managing practical companies,” he said. Highlighting the background of himself, Lavanya Nalli and Jay Kotak, Goenka said that the three, despite being different generations of business families, are balancing operational leadership and investment.
Lavanya Nalli, vice president of the Nalli Companies group, reflected on her experience as her family’s first woman to Jin the business. She emphasized that having the option to operate or is not a positive change. “It is good that today you can follow your vocation without worrying about the financial substance,” he said. However, he emphasized that operating within the business is still valuable. “Having an intentional and intentional leadership program for heirs, such as a rotation program in all functions, can establish succession for success,” he said, citing the Murugappa group model.
Nalli also talked about the risks of complacency for successful traditional companies. “The sterility of success is a real risk,” he warned, emphasizes to begin Nalli’s electronic commerce business in 2016. He explained that disruptive trends do not seem unimportant at the beginning, but they can overcome the holders if they do not act early. “The only way to avoid interruption is to interrupt itself,” he said, adding that creating independent disruptive units is key to survival.
On the issue of capital allocation for new companies, Goenka emphasized the importance of data -based decisions. “Today, interruption is not minimal in all sectors, from changes in the IA. Companies must evolve to stay relevant,” he said, that the calculated risks are essential for long -term growth.
In final comments, each speaker shared his aspirations for the future. Jay Kotak said he hopes to see Kotak Mahindra Bank emerge as leader in digital banking. “Hopefully the number one player, as soon as possible,” he said. Shashwat Goenka focused on ensuring that his group remains relevant and continues to help shape the economy of India. Lavanya Nalli said her vision is to keep the consumer in the center, innovation products and experiences for future generations.
The session highlighted how the business leaders of the New Age of India are combining tradition with the redefinition ambition of transformation for a changing India.
