Managing Director & CEO
Kotak Mahindra Bank Limited
Uday Kotak is the Founder and MD & CEO of Kotak Mahindra Bank Ltd. (KMBL). The consolidated net worth of Kotak is over INR 759 billion and Kotak Mahindra Group (Group) has over 70,000 employees. Uday believes that the true measure of performance is sustainable value creation. Investors who kept faith with the enterprise over the past 35 years have seen 40% CAGR on their investments.
When Uday dipped a finger in the financial sector in 1985, he knew he had found his calling. For the 26-year old, the small bill discounting business he had started held the promise of a universal banking company. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd. Today, KMBL is among India’s most efficient, high-performing and trusted banks. Uday’s strategy for growth is defined by quality, simplicity and prudence. This conviction and a respectable distance from irrational market exuberance has ensured that the bank is well capitalised and its asset book is of high quality.
The Group’s business model is concentrated India, diversified financial services, delivered by 19 entities across the firm. The Group has a global presence with offices in key financial markets. The bold vision that underscores Kotak’s growth is also an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked.
Uday’s vision for equitable prosperity extends beyond financial services. The Kotak Education Foundation (KEF) works with some of India’s most economically underprivileged communities, attempting to alleviate poverty through education and livelihood programmes. It’s the constant endeavour of KMBL to enhance its Corporate Social Responsibility (CSR) capabilities by adopting a purpose driven approach, focusing on sustainable and scalable programmes, in line with the country’s social imperatives and the United Nation’s (UN) Sustainable Development Goals (SDGs).
In June 2020, Uday took charge as President of Confederation of Indian Industry (CII), and in September 2020, he was reappointed as co-Chairman of the Indo-UK Financial Partnership (IUKFP) constituted by Ministry of Finance, Government of India and UK Treasury. Also, in September 2020, the Government of India renewed Uday’s appointment as the non-executive Chairman of the new IL&FS board with a mandate to steer one of India’s largest NBFCs out of the crisis that it is caught up in, which Uday took up as national duty in October 2018. Uday has served as Chairman of the SEBI constituted Corporate Governance Committee. In October 2017, the Uday-led panel submitted the report on corporate governance to SEBI recommending sweeping changes to create a more robust and transparent corporate governance framework.
Uday holds a Bachelor’s degree in Commerce from Mumbai University and a Master’s in Management Studies degree from Jamnalal Bajaj Institute of Management Studies, Mumbai.