I think my greatest virtue is that I have the courage to take tough decisions. As for my greatest fault, I guess I should be a little tougher. The feedback I get always is that I am not as tough and demanding as I should be.
— Ajay Piramal
I am humble enough to understand there are many people who know much more than I do on many subjects, so I listen to them. Integrity is also critical to leadership, so I believe there must always be alignment between what you think, say, and do.
We have been successful in buying and selling companies because we have a reputation of fulfilling deal terms in letter and spirit.
There are very few who have the privileges I have, and, therefore, it is essential that we give back to society.
You cannot have the financial system crippled because of lack of decision making and lack of quality people.
Spirituality permeates all aspects of your life and business is just one part of your life.
People say values are expensive, but I say they create economic value.
I may believe in something, but if it is not working and is not giving returns, we have to close it down because that is the right thing to do for the shareholders.
Horses and dogs were part of my growing up years.
I think public sector banks need to have greater private participation of people who have skin in the game.
There will be good times, and there will be bad, but one has to, to the extent possible, take things in one's stride.
When we exited the textiles business, we paid our bankers and labourers. We must have been the only company to do that.
I have always said that you have to fail. If you do not fail, it means you have never taken enough risks.
Governance is very important in NBFCs.
Our risk systems and processes - we keep investing and improving them.
