Mumbai : Noted banker Uday Kotak on Tuesday warned that there is more pain lurking with the lenders from small businesses and called upon his peers to look more closely at this underbelly of the credit market.
Private sector banks are accounting for “nearly entire” loan growth following the nearly Rs 13,000-crore scam at the state-run PNB, he said and projected that over the next four years, they will corner half of the credit market, up from 30 per cent now.
Stating that worries with the likelihood of loans to small and medium enterprises are “probably understated”, Kotak said.