For V. Vaidyanathan, MD & CEO of IDFC First Bank, India is a good place to be. The financial services veteran, who started out as a banker, then turned entrepreneur, and now leads the bank formed as a result of the merger between his NBFC Capital First and IDFC Bank, tells the audience at the BT500 Wealth Creators Summit that like the American Dream, soon there will be an Indian Dream. In a chat with Business Today’s Sourav Majumdar, he talks about infra financing, MSMEs, and the need for more banks. Edited excerpts:
Q: Tell us about the economy when you were starting off as a banker, and the changes you see as an entrepreneur banker right now?
A: If you go back a little in time, the villains of Indian movies in the ’90s,’80s, etc… Pran, Prem Chopra, Danny [Denzongpa]… were all businessmen… Now, nobody portrays businesspeople as [villains]. Now, entrepreneurship is accepted… it is seen as a source of employment creation—at least in the way the government speaks these days… people recognise that they pay taxes and they grow the economy. So, there has been a massive shift of the lens through which we see entrepreneurship in a positive way. It is the biggest thing that has happened in the past few years.
Q: Earlier, people used to frown upon people who used to make money…
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS