Uday kotak biography for kids

Indian billionaire banker

Uday Suresh Kotak (born 15 March 1959) is an Indian billionaire banker and founder of Kotak Mahindra Bank, where he is a non-executive director.^[2] He resigned from his CEO position in September 2023.^[3] He handed over the digital banking CEO role to his son, Jay Kotak.^[4]

In the early 1980s, while India was still a closed economy with slow economic growth, Kotak decided to start on his own, turning down a lucrative job offer from a multinational corporation.^[5] Over the next few years, he diversified his business into various areas of financial services, establishing a prominent presence in bills discounting, stockbroking, investment banking, car finance, life insurance and mutual funds.^[6]

In March 2003, Kotak Mahindra Finance Ltd.

became the first company to receive a banking license from Reserve Bank of India.^[5] In 2006, he and Goldman Sachs ended their 14-year partnership w