|Uday Kotak Quick Info|
|Height||5 ft 9 in|
|Date of Birth||March 15, 1959|
Uday Kotak is an Indian entrepreneur and banker who is most well known as the executive vice-chairman and former managing director of Kotak Mahindra Bank, one of the largest private sector banking institutions in India. In 1985, he started a company called Kotak Capital Management Finance Limited (later known as Kotak Mahindra Finance Limited) which, in due course of time, was diversified from a bill-discounting start-up to financial services such as stockbroking, investment banking, automobile financing, life insurance, and mutual funds. By March 2014, after getting a banking license in 2003, it became the second-largest commercial bank (Kotak Mahindra Bank) by market capitalization in India. In June 2014, Uday was named the Ernst & Young ‘World Entrepreneur Of The Year’. He was also ranked at number 8 by the India Today magazine in its 2017 list of ’50 Most Powerful People’.
Uday Suresh Kotak
Mumbai, Maharashtra, India
Mumbai, Maharashtra, India
Uday attained a bachelor’s degree from Sydenham College of Commerce and Economics in Mumbai. He then earned a postgraduate degree in management studies, graduating in 1982, from the Jamnalal Bajaj Institute of Management Studies (University of Mumbai).
- Father – Suresh Amritlal Kotak (Businessman, Known as ‘Cotton Man of India’)
- Mother – Indira Kotak
- Siblings – Aarti Kotak (Sister)
5 ft 9 in or 175 cm
80 kg or 176.5 lbs
Girlfriend / Spouse
Uday has dated –
- Pallavi Kotak (1985–Present) – Uday and Pallavi got married in 1985 and have 2 children together – a son named Jay Kotak and a daughter.
Race / Ethnicity
Salt and Pepper
- Sports a thick mustache
- Mildly stocky frame
- Short-cropped, side-parted hair
- Has a mole on his neck
Uday Kotak Favorite Things
- Sport – Cricket
- Hobby – Playing Musical Instruments
- Musical Interest – Sitar
- Educational Subject – Mathematics
- Restaurant – Swati Snacks in Mumbai
Uday Kotak Facts
- He grew up in a Gujarati joint-family of cotton traders in Mumbai, where 60 family members used to share a common kitchen.
- After the completion of his post-graduation studies, Uday decided to start a venture of his own instead of accepting a job offer from a multinational corporation, although the Indian economy was still not exposed to globalization and its growth prospects were dim.
- He started the operations of Kotak Capital Management Finance Limited in 1985 with a seed capital of less than USD 80K which he had borrowed from his family and friends.
- In March 2003, Kotak Mahindra Finance Limited (the re-branded avatar of Kotak Capital Management Finance Limited) became the first company in India’s history to receive a banking license from the RBI (Reserve Bank of India). It was christened as Kotak Mahindra Bank.
- In 2006, Uday terminated a 14-year partnership with global financial giant Goldman Sachs by acquiring that organization’s 25% stake in 2 of his subsidiaries for a sum of USD 72 million.
- He was instrumental in the completion of a deal worth USD 2.4 billion for Vysya Bank in 2014, which was partly owned at that time by the Dutch financial services group ING. As a consequence, the shares of Kotak Mahindra Bank hit an all-time high and his wealth almost doubled in that year.
- In 2015, he entered into a partnership with Indian telecom giant Bharti Airtel to start a payments bank, a nascent business at that time in the country. The move was also aimed at entering into the general insurance business.
- When Forbes magazine issued its 2016 list of ‘The Most Powerful People in The Financial World’, Uday was the sole Indian to find a place in it.
- He has served as a member of several high-level financial committees and industry organizations such as the Government of India’s ‘High-Level Committee on Financing Infrastructure’, the ‘National Council’ of CII (Confederation of Indian Industry), and the ‘Primary Market Advisory Committee’ of SEBI (Securities & Exchange Board of India).
- Kotak Mahindra Bank’s mobile banking called 811 draws its name from the date of November 8, 2016, when the Indian Government demonetized 86% of all its currency in circulation.
- The term ‘Mahindra’ in Kotak Mahindra Bank is in tribute to Indian business tycoon Anand Mahindra, who had backed Uday’s original business venture during its nascent stages and has since held a small stake in the bank. Anand had, interestingly, offered to invest in Kotak Capital Management Finance Limited at Uday’s wedding.
- Uday and his family own roughly 95% of the financial newspaper, Business Standard.
- Uday had suffered a fatal injury in 1979 when he was struck on his head by a cricket ball during a casual game. He underwent emergency surgery that saved his life.
- Effective September 1, 2023, Uday resigned as the Managing Director and CEO of Kotak Mahindra Bank. It was later revealed that he would serve as the non-executive director and significant shareholder in the bank.
Featured Image by BOOM / YouTube