Banker Aditya Puri has made it to American financial magazine Barron’s list of world’s 30 best CEOs. It additionally features Microsoft’s Satya Nadella and Shantanu Narayen of Adobe Systems.
The HDFC Bank managing director, Mr Puri, transformed the start-up into one of the world’s highest-quality banks, the magazine stated, adding that he quickly changed India’s second-biggest private-sector bank into the digital spot for anything money-related.
The unexpected demonetisation move in November a year ago, which voided 86% of the nation’s money, found a supporter in Mr Puri, who stood by the government, saying the move has made transparency and “is being unnecessarily demonised”.
“Demonetisation is good. I am extremely positive about its result. The worst is behind us and the elephant has gone, the tail is left, and, hopefully, it will leave too, by the middle of the next month,” the 66-year-old had said.
He agreed that the move created troubles at first, however things have improved now.
“There is more money in the system now. Interest rates are coming down. There is more transparency in the system now,” Mr Puri added.
In one of the sharpest comments against prepaid wallets like Paytm, he said such organizations which hold on to clients through cashbacks are loss-making and have “no future”.
“There is not enough margin in the payment business for the wallets to have a future. You can’t have a business that says pay a Rs. 500 bill and take Rs. 250 cashback,” Mr Puri said.
While underlining Microsoft CEO’s journey, the magazine stated, “Mr Nadella, 49, is the new participant to the rundown. He has pushed Microsoft in completely new directions, all while energising the brands that sustained the software giant for decades.”
Mr Narayen, 53, understood the stakes. Adobe no longer sells ‘boxed’ software, it included.