Veteran banker Uday Kotak said the “days of ‘lazy banking’ are over” and that the traditional regulatory moat protecting banks has effectively disappeared. His comments come at a time when India’s banking sector is experiencing competition from fintech companies, along with growing regulatory oversight on risk, capital, and customer protection.

“If I were to start afresh today, I would be a digital evangelist,” Kotak said, noting the importance of technology in banking.

He cited Brazil, where the largest company by market capitalisation is a bank without branches, as an example of how digital banking models can operate at scale.

Kotak also said, “India is transforming into a nation of investors from savers, ” pointing to rising participation in equities, mutual funds, and other financ

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