Business Uday Kotak says time has come for consolidation in NBFCs, expects a significant 'shakeout' Updated : February 18, 2019 06:50 AM IST On IL&FS crisis, he said, "We have made some progress in terms of figuring out the nature of exposures of each of these companies." Kotak said, India need a long-term solution to public sector banking in the country. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.