Errors of commission, not omission, destroy banks: Uday Kotak
India's richest banker Uday Kotak has said errors of "commission", not "omission", destroy banks. Kotak said recent losses incurred by banks look unreal and stress in banking sector is "culmination of years of kicking the can". "Issue is directors and managers with no skin in the game are taking decisions on lending and writing off thousands of crores," Kotak added.