HDFC Bank MD Puri undergoes cardiac surgery

HDFC Bank's Managing Director Aditya Puri has undergone a cardiac surgery and expected to join office in a few weeks.
He underwent a cardiac surgery yesterday and the operation was successful, HDFC Bank said in a regulatory filing.
"The board is confident that the operations of the bank will remain unaffected during this period," it said.
Yesterday Kotak Mahindra Bank Vice-Chairman Uday
Kotak, too, had called for a national bad bank, saying the present state of the financial sector needed such an institution so that they banks could continue to oil a fast growing economy.
"The stress in our banking sector must be eradicated to allow the system to lend to small businesses and other growing sectors of economy. And the present health of our public sector banks do not allow them to do so. Therefore a national bad bank is a good idea," he said here last evening.

Kotak also called for consolidation of the public sector banks saying the economy did not need 24 public sector banks but needed a few strong ones.

Describing the PSBs as 'the 70 per cent problem' (in reference to the over 70 per cent market share of these banks) Kotak had wondered what was the need for so many state-run banks, which is the highest in the world only after China.
But Kotak was quick to warn that as and when we create a national bad bank the government must ensure that it had a good management and governance teams who could face the challenges.

"We need to have a very solid basis of transferring assets at fair price to the bad bank and then having a strong recovery team which can manage this well by being surgical, logical and ruthless," Kotak had said.