Loan Waiver is not Practical
Managing director of Kotak Mahindra Bank, Uday Kotak, on 04 June said that it is unfair to allow a moratorium on interest on borrowing while expecting full interest on deposits.
Kotak was elected on 03 June as President of the Confederation of Indian Industries (CII).
“Bank are intermediaries between depositors and borrowers. We cannot have a one-sided contract where we allow a moratorium on interest on borrowing and expect full interest on deposits too,” he said.