Uday Kotak is an Indian entrepreneur and banker who is most well known as the executive vice-chairman and 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’.
Residence
Mumbai, Maharashtra, India
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.
Sexual Orientation
Straight
Distinctive Features
- Bespectacled
- 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
Source – ,
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 , 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.
Featured Image by BOOM / YouTube
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Facts of Uday Suresh Kotak
- Gender Male
- full nameUday Suresh Kotak
- middle nameSuresh
- nicknamesUday
- birthplaceMumbai, Maharashtra, India
- Date of Birth March 15, 1959
- Age 65 years 6 months
- Horoscope Pisces
- Lucky Number 6
- Lucky Stone Aquamarine
- Lucky Color Sea Green
- Best Match for Marriage Cancer, Scorpio
- nationalityIndian
- net worth$14.8 billion
- professionEntrepreneur, Banker
- weight80 kg or 176.5 lbs
- height5 ft 9 in or 175 cm
- hair colorSalt and Pepper
- eye colorDark Brown
- body type / buildAverage
- collegeSydenham College of Commerce and Economics
- motherIndira Kotak
- fatherSuresh Amritlal Kotak
- sistersAarti Kotak