Embarrassed as a banker: India's richest banker on PNB fraud
Reacting to the alleged fraud at PNB, India's richest banker Uday Kotak has said that he feels "embarrassed as a banker". He added that rather than blaming the bankers or regulators, India should focus on a new institutional framework for banks. Earlier, the Kotak Mahindra Bank MD said that he was "ashamed" about stressed assets problem in the banking sector.