A Quote by Chanda Kochhar
The growth that we are targeting for our bank is in line with the banking industry.
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Innovation has stalled in the banking industry. While the rest of the world is in the digital age, banking remains stagnant. We are here to change this and bring banking to the 21st century. We will ensure our customers feel involved in the progress of this bank and are offering them a truly enjoyable banking experience – different from anything they have experienced before.
It's not that the regulator doesn't want the banking industry to grow. The growth of the industry has always been in relation to the GDP (gross domestic product) growth.
As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for both the investment bank - which gets a huge volume of business - and the commercial bank because the commercial bank can walk into a company and say, "Oh, if you need X, Y and Z in Japan or China, we can do that for you."
Higher capital requirements increase bank costs, and at least some of those costs will be passed along to bank customers and shareholders. But in the longer term, stronger prudential requirements for large banking firms will produce more sustainable credit availability and economic growth.
The Indian banking industry has always been full of competition, and there is enough room for growth.
My belief is India's banking industry will continue to grow at two and a half times the GDP growth rate.
Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.
I don't think that the financial services industry and that banking in particular are any different than any other part of the economy, any other industry outside banking.
I'm not against banking. Banking allowed our modern society to happen, it is essential. It connects the work through finance, so banking is good.
So perhaps the most worrying single remark made by a responsible banking official during the current crisis came from Jochen Sanio, the head of Germany's banking regulator BaFin. He warned on Aug. 1 that his country could be facing the worst banking crisis since 1931 - a reference to the collapse of Austria's Kredit Anstalt, which provoked a wave of bank failures across Europe.
In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.
Growth at an exceptional rate is a red flag in banking. It is hard enough to manage an ordinary bank; to control a sprouting weed is well-nigh impossible. If loans are expanding too quickly, the lending officers have probably been saying 'yes' too frequently.
I keep wondering at night, 'Will I have a bank the next morning, or will some technology company be doing banking without needing a bank?'
The clouds roll on. Silent as sleepwalkers the clouds keep coming from infinity bank behind bank and line after line, and change colors on the earth.
We obviously - I'm from Michigan, so we saw a disproportionate number of these social media ads targeting us, targeting our population. So I want to close that loophole. That's my amendment, so that no foreign entity can buy an ad for or against a candidate in our democracy.
I want everyone inside of Microsoft to take that responsibility. This is not about top-line growth. This is not about bottom-line growth. This is about us individually having a growth mindset.
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