Mumbai, May 12 -- Billionaire banker Uday Kotak on Tuesday cautioned that Indians must prepare for the worst as the full impact of the oil price surge on account of the war in West Asia is imminent.

At an industry event in New Delhi, Kotak, who founded the Kotak Mahindra Bank, said that one should prepare for paranoia before the event, and hope that tough times do not arrive or persist.

"We must prepare for the worst. It is about preparation, being ready for tough times, rather than waiting for the shock to hit us."

Kotak said that India has not seen the impact in the past two months of the West Asia war, in terms of energy price transmission. "It is coming, and it is coming big," Kotak warned, days after Prime Minister Narendra Modi a...