Nearly 27 months ago billionaire Uday Kotak announced the takeover of ING Vysya Bank after years of eyeing it. We did miss out on some parts of the homework,” says Dipak Gupta, joint managing director, Kotak Mahindra Bank. You must kill the uncertainty even if you have to take the pain very early on,” says Gupta.Before the merger, Kotak had a strong workforce of about 30,000 employees. Even as the country is debating about the need for a bad bank now, Kotak has already had created a separate entity to park all troubled assets of ING Vysya after taking a huge hair-cut. So reassessment from a discipline point, we rigorously have once a quarter,” says Gupta.The road to merge with ING Vysya has been bumpy for Kotak.

Source: Economic Times February 21, 2017 19:34 UTC