Uday Kotak | The success story of the Indian Billionaire

Uday Kotak is the Vice Chairman and Managing Director of Kotak Mahindra Bank. Also,he is a self-made Indian billionaire. Here’s his success story.

Biography

Born on 15th March 1959 in Mumbai, Uday is 62 years old as of 2022. THe completed his graduation from Sydenham College and post-graduation from Jamnalal Bajaj Institute of Management Studies. He was interested in playing cricket and sitar during his early years. Uday was a bright student and loved Mathematics too.

Early Life and Family

Uday Kotak was born in Mumbai, Maharashtra in an upper-middle-class Gujarati family. His family was into cotton trading and his father Suresh Amritlal Kotak was known as the ‘Cotton Man of India’.

Career of Uday Kotak

After pursuing his MBA, Kotak started Kotak Capital Management Finance Ltd. With a small capital of less than US$ 80, 000, Kotak converted a bill-discounting startup into a financial services conglomerate with assets of US$ 19 billion. He doubled his wealth as shares of his bank hit an all-time high in 2014.

In 2015, Uday entered the general Insurance business and partnered with Bharti Airtel to start a small payments bank. In 2019, he was reported to be one of the highly paid CEOs of any Indian bank with a monthly salary of Rs. 27 lakh. He took over as President of the Confederation of the Indian Industry for the year 2020-21.

Achievements of Uday Kotak

Kotak Mahindra Bank is the second-largest private bank in India with more than 1600 branches all over India. In fact, Uday Kotak has worked hard to achieve his goals and has received global recognition for his success.

• Uday Kotak was named Ernst & Young World Entrepreneur of the Year in 2014.
• Also he was the sole Indian Financier to feature in Money Masters: The Most Powerful People in The Financial World by Forbes Magazine in 2016.
• In 2017, India Today ranked Kotak on #8 in India’s 50 most powerful people list.

Kotak Mahindra Bank

Kotak Mahindra Bank is an Indian banking and financial services company established in 1985. Afterwards, in February 2003, the Reserve Bank of India gave the license to carry on with the banking business. The bank has subsequently established itself and is one of the fastest-growing private banks in India. It has almost 1600 branches and 2519 ATMs in India .

Net Worth of Uday Kotak

Kotak is a billionaire and has an estimated net worth of $14.30 billion. Moreover, Kotak is the highest-paid CEO among any Indian bank.

Also Read: Rakesh Jhunjhunwala | Success story of the Indian stock trader

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