Uday Kotak's Biography

Uday Kotak is one of India's foremost banking visionaries and the founder of Kotak Mahindra Bank, a leading private sector bank in India. Born on March 15, 1959, in Mumbai, Uday Kotak displayed an early acumen for mathematics and finance, which he later honed through an MBA at the prestigious Jamnalal Bajaj Institute of Management Studies. Initially aspiring to become a cricketer, he pivoted towards finance after a life-changing injury, eventually starting Kotak Capital Management Finance Ltd. in 1985 with a small capital borrowed from family and friends. Under his dynamic leadership, the company evolved into Kotak Mahindra Bank, becoming the first non-banking finance company in India to receive a banking license from the Reserve Bank of India in 2003. Recognized for his prudent risk management and innovative approach, Uday Kotak has grown his enterprise into a diversified financial conglomerate, encompassing banking, insurance, asset management, and investment banking. His net worth has soared over the years, reaching approximately $14.8 billion in 2024, making him one of the wealthiest bankers not just in India but globally. Uday Kotak is celebrated for his ethical business practices and his mantra, "Be the best, not the biggest." He has received several accolades, including the Padma Bhushan and the Ernst & Young World Entrepreneur Of The Year award. Despite occasional regulatory challenges, he is admired for his resilience and long-term vision. Outside the boardroom, Kotak enjoys cricket, reading, and music, reflecting a well-rounded personality. As a philanthropist and thought leader, he continues to shape the landscape of Indian banking and inspires aspiring entrepreneurs worldwide.