Washington DC, October 01, 2014:Mr. Rana Kapoor, Managing Director & CEO of YES BANK meets Hon’ble Prime Minister, Mr Narendra Modi at the USIBC Event held at Washington, DC. He apprises Fortune 500 companies as the real opportunity for India & investments from them is the need of the hour and could be the biggest turning point. And with the sentiment improving back home, one can expect the investment cycle taking-off in the next six months.
Prime Minister Narendra Modi’s visit to the USA has come at just the opportune time when the domestic sentiment is improving, YES Bank MD & CEO Rana Kapoor said today. The atmospherics of the visit will surely spur the investment cycle and we should see a distinct turnaround in the next six months, he added.
Commenting on the outcome of Mr. Modi’s meetings with the CEOs of Fortune 500 companies, Mr. Kapoor said: “There is lot of confidence, conviction and the quality of the communication has been very good. Mr. Modi is building the bridges and creating a commitment with Fortune 500 companies. It is not just about politics or geopolitics. The circumstances today wrap around how Mr. Modi and Indian business is able to motivate Fortune 500 companies.”
"The Fortune 500 companies have no restrictions, no seatbelts. They are the ones who can seriously invest in India and that is an opportunity which in my opinion is at a turning point," said Rana Kapoor, MD and CEO of Yes Bank.
“The underlying investment cycle will improve with the atmospherics, with the overall sentiment. Confidence in the economy is really picking up. So the next step is to get the investments going. The investments are going to come from the foreign direct investment (FDI) route and slowly and steadily as Indian balance sheets overcome recession. It will take a while, six months in my opinion, by April when the investment cycle has turned fully and corporates start investing in building capacity in right earnest,” Mr Kapoor has noted.
Speaking of the way ahead, Mr Kapoor says that it is very important for Indian corporates to derisk their balance sheets. Available options include M&A to take non-core assets off the books, along with a reduction in the debt levels. The decongestion in balance sheets will help corporates venture into newer opportunities. “That is the need of the hour for derisking of the economy. Once you get the foreign investments going, then you can press on the peddle steadily,” added Rana Kapoor, MD and CEO of Yes Bank.
ABOUT YES BANK
YES BANK, India’s fourth largest private sector Bank, is the outcome of the professional & entrepreneurial commitment, vision & strategy of its Founder Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving its organizational character as the Professionals’ Bank of India with the uncompromising Vision of “Building the Best Quality Bank of the World in India by 2020!
For media queries, please contact:
YES BANK Limited