We believe that rural India is going to be the next driver of growth. You cannot make money overnight there, as you have to set up infrastructure there; the value of transactions is lower - you need a few years before you can really make all those businesses profitable.

We don't understand the equity market well, and so we deploy funds in fixed-income securities, and like any other securities, investment in those securities also need to follow the mark-to-market accounting principle.

Every quarter, we need to see the portfolio and follow the accounting practice of mark-to-market that values investments according to the prevailing market prices and at the price at which they are made.

Chanda Kochhar Quotes