Uday Kotak

Uday Suresh Kotak (born 15 March 1959) is an Indian banker and billionaire. He founded Kotak Mahindra Bank and now serves as its non-executive director. He stepped down as CEO in September 2023 and passed the role of digital banking head to his son, Jay Kotak.

In the early 1980s, when India had a closed and slow-growing economy, Kotak turned down a well-paid job at a multinational corporation and started his own business. Over the years, he expanded into many financial services areas, including bill discounting, stockbroking, investment banking, car loans, life insurance, and mutual funds.

In March 2003, Kotak Mahindra Finance became the first Indian company to receive a banking license from the Reserve Bank of India. In 2006, Kotak ended a 14-year partnership with Goldman Sachs, buying their 25% share in two of his firms for $72 million.

As of April 2021, Bloomberg estimated his wealth at $14.8 billion.

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Category:1974 births
Category:Billionaires
Category:21st-century Indian people
Category:20th-century Indian people
Category:Bankers
Category:Indian businesspeople