31 March 2024

Business Today

For Managing Tomorrow

Business Today2 min read
Financial Services in the New Age
Nearly every sector we know of is undergoing deep-rooted change thanks to rapid technological developments. The banking and financial services industry is no exception. In these changing times, where the use of Generative AI (Gen AI) is becoming wide
Business Today1 min read
The Tide Turns
THE COMBINED NET PROFIT OF LISTED BANKS EXPERIENCED ITS SLOWEST GROWTH IN AT LEAST 10 QUARTERS DURING THE DECEMBER 2023 QUARTER SOURCE ACE EQUITY THE GROWTH IN NET INTEREST INCOME OF THE LISTED BANKS SEEMS TO BE LOSING MOMENTUM DUE TO HIGHER INTEREST
Business Today4 min read
Keeping Momentum
SEEMINGLY CONFIDENT about the prospects of his party in the upcoming General Elections, Prime Minister Narendra Modi recently met with his Council of Ministers to discuss the road map for Viksit Bharat, or a developed India by 2047, as well as the ag
Business Today1 min read
A New Beginning
THE ESTIMATED SIZE OF THE INDIAN ECONOMY BY 2047 GDP GROWTH IN FY24 AS PER THE SECOND ADVANCE ESTIMATES OF THE NSO HELD ALONG WITH WORKSHOPS FOR CONSULTATIONS ON THE VIKSIT BHARAT, OR DEVELOPED INDIA, ROAD MAP NUMBER OF YOUTH FROM WHOM SUGGESTIONS WE
Business Today3 min read
“Chips Not Risky Business Anymore”
INDIA’S DECADES-OLD dream of becoming a semiconductor nation is becoming a reality as the government has approved one fab and two more testing and packaging proposals. In conversation with Business Today, Rajeev Chandrasekhar, Minister of State for E
Business Today2 min readIntelligence (AI) & Semantics
Reining in AI
AMID THE ONGOING debates surrounding the regulation of artificial intelligence (AI), a recent advisory from the Ministry of Electronics and Information Technology (MeitY) marks a potential turning point. Issued on March 1, it requires AI companies an
Business Today2 min read
Alone Together
TATA GROUP’S automobile arm, Tata Motors, is on course to de-merge its two broad business segments—passenger vehicles (PV) and commercial vehicles (CV). The Tata Motors board has approved the demerger with the aim of unlocking value, imparting agilit
Business Today4 min read
The App Fee Conundrum
A LONG-STANDING CONFLICT has pitted some of India’s most prominent start-ups against global tech giants. The bone of contention? The high share of revenue charged by Google Play Store and Apple App Store. Recently, apps of some well-known Indian bran
Business Today1 min read
Fast Track
A freight train passing through the Ajmer unit of the Western Dedicated Freight Corridor SOURCE CMIE ECONOMIC OUTLOOK Movement of freight in January—the second-highest monthly volume ever recorded by the Railways after 144.6 million tonnes in March 2
Business Today5 min readFinance & Money Management
The-banking Paradox
THE BANKING SECTOR hasn’t looked this strong in years. With assets worth ₹243 lakh crore, backed by strong asset quality, robust capital buffers, soaring profitability, and the Reserve Bank of India’s (RBI) proactive measures towards improving banks’
Business Today7 min read
The Visionary
HALFWAY UP THE Godrej BKC tower in Mumbai’s financial capital, on the 10th floor, you can find Uday Suresh Kotak, 64, seeking new challenges instead of planning a holiday. Over nearly four decades, Kotak, as the Founder, MD & CEO of Kotak Mahindra Ba
Business Today1 min read
Meet The Brightest Stars
BANK OF THE YEAR HDFC Bank & ICICI Bank (Joint Winners) LIFETIME ACHIEVEMENT AWARD Uday Kotak, Founder & Director, Kotak Mahindra Bank BEST BANK IN INNOVATION Ujjivan Small Finance Bank BEST BANK IN TALENT AND WORKFORCE Kotak Mahindra Bank BEST BANK
Business Today1 min read
Business Today
Chairman & Editor-in-Chief: Aroon Purie Vice Chairperson & Executive Editor-in-Chief: Kalli Purie Group Chief Executive Officer: Dinesh Bhatia Executive Director: Rahul Kanwal Chief Operating Officer: Alok Nair Editor: Sourav Majumdar Group Creative
Business Today1 min read
An Extraordinary Career
1 After 38 years, Uday Kotak stepped down in September 2023 as the MD & CEO of the bank he founded. He helped in a smooth succession, with Ashok Vaswani taking over 2 He put together a new team that includes top-notch professionals from outside the b
Business Today1 min read
Building From Scratch
Uday Kotak started his entrepreneurial journey in bill discounting Forayed into auto financing Entered into lucrative investment banking business Kotak Mahindra Finance tapped IPO market Started mutual fund journey to pool the savings of small invest
Business Today7 min readSmall Business & Entrepreneurs
“India Is Turning From A Nation Of Savers Into One Of Investors”
BUILDING A DIVERSIFIED financial services empire in India is no easy feat, especially for a first-generation entrepreneur. But Uday Kotak, 64, did just that. Starting with bill discounting in the mid-1980s, he transformed his company from a small pla
Business Today2 min read
Ageas Federal: Team Culture As A Differentiator
What could be the parameters to call an insurance company successful? It could be top-line, profitability, the dividend, the solvency margin and for the expanding enterprises it could be about the value of new business. But here is one company which
Business Today2 min read
Kincentric unveils 16 Best Employers in India
Kincentric, the human capital advisory business of Spencer Stuart announced the winners of Best Employers in India 2023 study. Anurag Aman, MD and India Market Leaders for Kincentric India shared – “Best Employers in India continue to stay ahead of t
Business Today2 min read
Axis Bank: Thriving in a Dynamic Landscape
Amidst global economic challenges and evolving market dynamics, financial institutions worldwide are grappling with the need for agility and adaptability. A combination of fiscal consolidation, monetary tightening, and geopolitical factors necessitat
Business Today2 min read
DBS Bank India: A Different Kind of Bank
Here is a bank that has mastered the art of providing the best employee experience. Treating its employees like family, prioritising their well-being, building trust and actively listening to their needs are its mantras for success. Being recognised
Business Today2 min readLeadership
Bajaj Allianz: Excelling with Openness to Ideas
This organization prides itself for always putting its people at the centre. They in fact go by a rather simple policy; unhappy teams can’t give you happy customers. With around 25,000 employees on its roll and despite having a mammoth organisational
Business Today2 min readLeadership
EPL: Leading The Pack With People And Innovation
This Indian multinational powerhouse has carved its path along with customers and partners to establish its leadership in the global packaging industry. Established for 40 years, EPL is a unique multi-national organization with presence in Asia Pacif
Business Today2 min read
Marico: Making A Difference
At the heart of the company is a deep commitment to prioritizing and empowering its people, and this philosophy is reflected in their approach of fostering a culture that values the capabilities of its workforce. Foremost among it all is the sense of
Business Today2 min read
Kirloskar Pneumatic Company Limited: Shared Values As The Unifying Factor
Founded in 1958 by Shantanurao Kirloskar, Kirloskar Pneumatic Company Limited is one of the core Kirloskar group companies which espouses all the values that come with being part of a rich 130-year legacy in manufacturing and industrial innovation. T
Business Today2 min read
Mondelez India Foods Pvt. Ltd: Agility, Innovation and Resilience enshrined in the DNA
Serving sweetness all over India, this enterprise is committed to create moments of pure delight for millions around the globe. Emerging as a Kincentric Best Employer, Mondelez India proudly claims that their strength remains their passionate and eng
Business Today2 min read
Tata AIA Life Insurance Company: Ensuring a Robust Insurance Landscape
Tata AIA’s success and recognition as a Kincentric Best Employer for the 8th consecutive year can be attributed to several key factors. “Being named as Best Employer in India by Kincentric for 2023, eight years in a row, is indeed a matter of pride f
Business Today2 min read
Rallis India Ltd (A Tata Enterprise): Carrying a Legacy of Excellence
Rallis India, a company with a rich history spanning over 170 years, has emerged the Kincentric Best Employer 2023 for its exemplary practices and achievements. The company’s success can be attributed to several key factors that demonstrate its commi
Business Today2 min read
Tata Communications: Connecting the World to A Bright Future
Tata Communications, under the leadership of Amur Lakshminarayanan, has been awarded for its outstanding performance and best practices in several key areas. The company’s journey towards excellence can be attributed to a combination of strategic ini
Business Today2 min read
The Tata Power Company Ltd.: Leader in Driving Digital Innovation and Sustainability
Tata Power’s recognition from Kincentric as a Best Employer can be attributed to a multitude of best practices and exemplary initiatives that the company has undertaken. “We have embarked on a journey of transformation deeply rooted in sustainability
Business Today5 min readFinance & Money Management
From Strength To Strength
FOR 63-YEAR-OLD Sandeep Bakhshi, the Managing Director and Chief Executive Officer who turned ICICI Bank around, there are some basic rules of banking: seize current market opportunities, optimise capital, and strike a balance between risk-return met
Business Today6 min readFinance & Money Management
A New Dawn
IN THE HIGHLY integrated banking world, every twist and turn in the domestic as well as global economy poses a new challenge for those at the helm. Sashidhar Jagdishan, or Sashi as he’s called by his peers, has faced his fair share of these in the th
Business Today3 min read
Beyond Home
WHEN THE NAME is ‘Bank of Maharashtra’, it’s natural to assume that the lender primarily operates in Maharashtra and the bulk of its branches are in the state, with a focus on Mumbai. There was a time when the majority of the bank’s business, up to 7
Business Today4 min readIntelligence (AI) & Semantics
Changing With The Times
SET UP IN 1916, The Karur Vysya Bank (KVB) has a longstanding heritage of ethical banking practices. It has remained profitable every year since its inception, demonstrating robust financial stability and consistency. The founders had incorporated ce
Business Today4 min read
A Small Bank With A Big Roar
UJJIVAN SMALL FINANCE BANK, although a new entrant in the banking space—being in business only since 2017—has already made a name for itself. Having already attained significant scale in just seven years, the Bengaluru-based small finance bank (SFB)
Business Today2 min read
Empowered Banking
Voice. Vernacular. Visual. These three aspects of the ‘Hello Ujjivan’ app, or the so-called 3V approach, did the trick for Ujjivan Small Finance Bank and helped the lender emerge as the winner in BT-KPMG’s Best Bank in Innovation category. Launched a
Business Today2 min read
Dairy Dreams
IN RURAL AND semi-urban areas, access to milk production data serves various purposes, the primary being digitisation. It can also bring financial inclusion for underserved dairy farmers. Kochi-headquartered Federal Bank saw an opportunity in this sp
Business Today2 min read
Winds Of Change
MY LARGEST BRANCH is my mobile app,” says Shanti Ekambaram, Deputy Managing Director of Kotak Mahindra Bank (KMB). About 98% of their savings account transactions go through mobile, she says, adding that the industry is currently undergoing a signifi
Business Today6 min readFinance & Money Management
Geared For Growth
I AM ADDICTED to success. But I believe my main strength lies in my mind. Numbers don’t lie. If you look at the last 15 years, my level has consistently remained high. If you don’t commit 100%, you won’t achieve the level you aspire to. I’ve dedicate
Business Today2 min read
Gender Bender
THE BANKING INDUSTRY may be one of the largest employers of women in India, but its close cousin, the NBFC sector, where most roles are in frontline sales and collection, is a different story. For a well diversified NBFC focussed on semi-urban and ru
Business Today2 min readIntelligence (AI) & Semantics
The Power Of Digital
IN TODAY’S DYNAMIC landscape, digital transformation is not optional. Rajiv Sabharwal, MD & CEO of Tata Capital, understands this. Under his leadership, Tata Capital has led the way in digital innovation. From leveraging platforms like WhatsApp, Alex
Business Today4 min readSmall Business & Entrepreneurs
The Omnipresent Platform
IMAGINE THIS: In the remote corners of Kashmir, a small kirana shop effortlessly processes payments, equipped only with a point-of-sale (POS) device. Similarly, for a textile exporter in bustling Kanyakumari, conducting transactions in international
Business Today3 min read
Helping Hand
IT IS A CAPITAL mistake to theorise before one has data,” the iconic fictional detective Sherlock Holmes, created by British novelist Arthur Conan Doyle, said. That holds true even today. It is an approach that is thriving in this era of data overloa
Business Today4 min read
The Small Firm’s Best Friend
HARSHVARDHAN LUNIA, 42, has seen small businesses and their struggles from early in his life. A chartered accountant by training who comes from a business family, he saw the dearth of institutional financial support for such enterprises early in his
Business Today5 min readIntelligence (AI) & Semantics
Leapfrogging Into The Future
A ARTIFICIAL INTELLIGENCE (AI) is all set to fast-forward India’s digital economy, enhancing governance, social inclusion and push for an exponential multi-sectoral growth that includes data-driven intelligence and insights. Within the realm of AI, G
Business Today3 min read
SSV Capital PLC-Building a Better Tomorrow
SSV Capital PLC, headquartered in London's financial hub, Canary Wharf, holds a belief that creating wealth goes beyond mere profit generation for a singular entity. They advocate for an ethical approach, sustainability, and a positive impact on the
Business Today2 min read
Group-i Large Indian Banks
Size of State Bank of India’s balance sheet, which is more than twice that of the second-largest HDFC Bank Numbers in bold indicate ranks of respective parameters; three-year growth is compounded annual growth rate (CAGR); values in each parameter ar
Business Today1 min read
Group-iii Small Indian Banks
Return on capital employed generated by CSB Bank in FY23, the highest in the small Indian bank category Numbers in bold indicate ranks of respective parameters; three-year growth is compounded annual growth rate (CAGR). Values in each parameter are r
Business Today1 min read
Group-ii Mid-sized Indian Banks
Highest growth in total deposits witnessed by IDFC First Bank in the midsized Indian bank category Numbers in bold indicate ranks of respective parameters; three-year growth is compounded annual growth rate (CAGR); values in each parameter are rounde
Business Today1 min read
Group-iv Large Foreign Banks
Size of HSBC India’s balance sheet, the largest among foreign banks in India Numbers in bold indicate ranks of respective parameters; three-year growth is compounded annual growth rate (CAGR); values in each parameter are rounded off up to two decima
Business Today1 min read
Group-v Small Finance Banks
Three-year annualised growth (CAGR) in loans and advances witnessed by AU Small Finance Bank, the highest among small finance banks Numbers in bold indicate ranks of respective parameters; three-year growth is compounded annual growth rate (CAGR); va
Business Today1 min read
Group-vi Non-banking Financial Companies
Growth in loans and advances reported by Aditya Birla Finance in FY23, the highest in the large NBFC category *Additions to stage 3 assets during the year as percentage of average net loans; numbers in bold indicate ranks of respective parameters; th
Business Today8 min read
Picking The Winners
THE BANKING AND financial services industry (BFSI) was in robust health in 2022-23. This is the backdrop in which the Business Today-KPMG jury met to pick the winners in the banking and non-banking financial companies (NBFCs) categories for 2022-23.
Business Today6 min readIntelligence (AI) & Semantics
“Besides China, No One Can Match The Scale That India Offers”
Romal Shetty, 48, the CEO of Deloitte South Asia, says it is an exciting time to be in India for a Big 4 consulting firm as a lot of innovation and transformation is happening in the country that is being replicated worldwide. The team in India const
Business Today6 min read
Shaking It Up
SO, YOU DRIVE to the local park for your morning walk, drive and take a Metro to your office, where you grab the lift to the third floor, and then you repeat the commute in the evening. If you have to queue up for an autorickshaw, you crib about last
Business Today1 min read
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Business Today4 min readIntelligence (AI) & Semantics
“Our Vision Is To Create A Digital Scientific Army”
GLOBAL PHARMA major Eli Lilly is ramping up its presence in India. Leading Eli Lilly—that has been around for nearly 150 years and had posted revenues of $34.12 billion in 2023—is David A. Ricks, 54, who has been with the company for more than 25 yea
Business Today4 min read
Is The Tie Dead?
I love people-watching on visits to foreign shores, whether it is the morning rush hour commute on the subway, or the hordes of people who stop to grab a sandwich at lunch hour—just regular people going about their business without bothering with som
Business Today2 min read
The Final Course
GOLFERS ADORE THE green colour. And, the verdant greens of the Clover Greens Golf Course in Hosur, Bengaluru, provided an ideal setting on March 2, 2024, to conclude the prestigious Royal Ranthambore Business Today Golf 2023–24 Season in grand fashio
Business Today1 min read
“Bring In Experts to Understand Customers”
What was the problem you were grappling with? We faced a challenge with the unpredictable nature of revenue, especially when dealing with defence and government clients. Despite our best efforts and resources dedicated to engaging with stakeholders a

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