Uday Kotak

Uday Kotak was born in Mumbai in 1959 and studied at Jamnalal Bajaj Institute of Management Studies. He founded Kotak Capital Management Finance Ltd in 1985 with seed funding from Anand Mahindra. The company initially focused on bill discounting before expanding into leasing, hire purchase, and eventually banking. After obtaining a banking license in 2003, Kotak Mahindra became one of India's leading private sector banks. Kotak is known for his conservative approach to banking — maintaining high capital adequacy ratios, avoiding aggressive lending during boom cycles, and building a strong deposit franchise. He served as the President of the Confederation of Indian Industry and has been an influential voice on Indian economic policy. Kotak Mahindra Bank has grown to be one of India's most valuable financial institutions, with Kotak remaining one of the richest individuals in Asia.