Shri Uday Kotak

Founder and Director, Kotak Mahindra Bank Limited

Uday Kotak is the Founder and Director of Kotak Mahindra Bank Ltd. (KMBL). The consolidated net worth of Kotak is over Rs 75,900 crore and Kotak Mahindra Group (Group) has over 71,000 employees. Uday believes that the true measure of performance is sustainable value creation. Investors who kept faith with the enterprise over the past 34 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 has been reappointed as co-Chairman of Indo-UK Financial Partnership (IUKFP) constituted by Ministry of Finance, Government of India and UK Treasury. Also, in September 2020, 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 governance environment.

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.

Membership
1. President of Confederation of Indian Industry (CII)
2. Co-Chairman of Indo-UK Financial Partnership (IUKFP) constituted by Ministry of Finance, Government of India and UK Treasury
3. Chairman, Advisory Committee on Corporate Insolvency and Liquidation (Insolvency & Bankruptcy Board of India)
4. Chairman of Indian Institute of Management (IIM) Bodhgaya
5. Member:
    a. International Advisory Panel of Monetary Authority of Singapore
    b. International Advisory Board of the Government of Singapore Investment Corporation
    c. Investment Advisory Committee Member of Army Group Insurance Fund
    d. Board of Governors of Indian Council for Research on International Economic Relations

Recognition
1. ‘Ernst & Young World Entrepreneur of the Year Award’ in 2014
2. ‘USIBC Global Leadership Award’ at the 2018 India Ideas Summit organised by the U.S.-India Business Council
3. ‘ET Business Leader of the Year Award’ at ET Awards 2015 for Corporate Excellence
4. ‘Entrepreneur of the Year’ at Forbes India Leadership Awards 2015
5. ‘Entrepreneur of the Decade’ by Bombay Management Association (BMA) in 2015
6. ‘Businessman of the Year 2016’ by Business India
7. ‘Lifetime Achievement Award’ at Financial Express’ Best Banks’ Awards 2016
8. ‘Banker of the Year’ by Business world Magna Awards 2018
9. ‘CEO of the Year’ for Individual Excellence at the CNBC-AWAAZ CEO Awards 2018
10. ‘Life Time Achievement Award’ at Magna Awards 2019 by Business world
11. ‘Best CEO in Banking Sector’ by the Business Today Best CEO Awards 2019