Nilesh Shah, Managing Director and Chief Executive Officer of Kotak Mahindra AMC, who is also a part-time member of the Prime Minister’s Economic Advisory Council, urged people to invest more wisely.
“Credit was traditionally provided by the banks. But now it is provided by the capital markets… And one day I am sure it will surpass bank credits,” he said at an event here.
Shah said the capital markets employ as many people as the banking sector if we take into account both the direct and indirect jobs created by the capital market.
Indians must become wiser with their investments, he urged.
“Today India is poor, not because it earns less, but because it does not invest well,” Shah said at the event organized by real estate firm Groww and consultancy firm Bain & Company.
Keeping the money at home or squandering it in now-banned real-money gambling or booking losses through crypto bets – aspects that Indians indulge in – will not yield any returns, he said.
Shah lamented that even employees from the mutual fund industry had invested in a Ponzi scheme that recently went bankrupt.
Speaking at the same event, Radhika Gupta, Managing Director and Managing Director of Edelweiss Mutual Fund, called for incentives to ensure that a person starts investing from the age of 20.
There can be a lock-in of five to 10 years, which can keep the person invested and creating wealth for themselves, she said.
Published on December 10, 2025
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