YES Bank CEO on Banking Challenges and Future Strategies

Prashant Kumar, the CEO of YES Bank, talked about the big challenges banks in India are facing.

He said that banks have enough money for lending, but getting deposits is getting harder because people are putting their savings into other investments instead of bank accounts.

This makes it tough for banks to keep making money because they can't lower the interest they pay on deposits, and they have to offer competitive rates on loans.

Kumar believes that banks need to use technology and focus on keeping costs low to stay profitable.

He also thinks that branch banking is still important for building trust with customers.

YES Bank is focusing on certain types of loans, like business loans and affordable housing, where they can manage risks better.

Overall, he says that being efficient is not just important for banks—it's necessary for their survival.