Uday Kotak

Kotak has been leading the bank since its inception as a non-banking financial institution in 1985. It became a commercial lender in 2003. He has a net worth of about $13.4 billion, according to Bloomberg Billionaires Index.

Kotak said it is unusual in today’s world of banking anywhere to have an individual with around 26 percent skin in the game with disproportionate family assets in one stock, emotionally attached to living his dream of making India proud

Speaking at the launch of India's G-20 Sherpa Uday Kotak's book 'Made in India', Kotak said the Insolvency and Bankruptcy Code (IBC) was a great concept which made it sure that the creditor is in control of things, but underlined the need for more work.

Kotak tweeted saying India also needs strong institutions backed by reliable domestic capital, like the US. According to him, the development underscores strong domestic US financial institutions backed by significant capital and capable leadership

The private lender has not received any communication from the Reserve Bank of India (RBI) on the reappointment front, said Group CFO Jaimin Bhatt

Earlier, shareholders of Kotak Mahindra bank voted 99 percent in favour of Uday Kotak taking up as the non-executive non-independent director of the bank after he steps down as the MD and CEO.

The US company is weighing opening its own office in the country in order to free itself from the restrictions of its deal with Kotak Mahindra Capital Co, according to the report,

Uday Kotak’s tenure as the chief executive officer and managing director of the bank ends on December 31, 2023. KVS Manian, whole-time Director, Kotak Bank, had previously said that Jay Kotak, Uday Kotak's son, will not be a contender for the position, at least for now.

The top 10 companies in the world by value, as shared by Uday Kotak, are: Apple, Microsoft, Saudi Aramco, Alphabet, Amazon, Berkshire Hathaway, NVIDIA, Tesla, Meta and Johnson & Johnson.

Kotak Mahindra Bank chief executive officer cites examples of RCap, Srei and others to say these signalled poor recovery for lenders and a tardy insolvency and bankruptcy code process

Credit Suisse was sold to UBS Group AG, Switzerland's largest banking group, for more than $2 billion

Kotak's comments come in the wake of an evolving banking crisis in US where the authorities have taken over three collapsed regional banks and global banking major Credit Suisse is battling for survival.

Silicon Valley Bank (SVB), a key lender to tech startups, saw its share price dropping by 60 percent after the bank’s parent company, SVB Financial Group, announced a $2.25-billion share sale to help shore up its finances

The RBI has raised the key interest rates by 250 basis points in the current fiscal. Experts forecast another 25 basis points hike in the April policy as retail inflation crept up to 6.52 percent in January breaching the upper end of the RBI's tolerance band.

Kotak Mahindra Bank has a solid batting line-up, any of whom could step up to the crease. But two are rumoured to be the favourites. Watch this space.

The Kotak Mahindra Bank Chief Executive Officer had earlier warned India of three risks - sticky inflation, Russia’s unpredictable actions, and China becoming numero uno

Strong ramp-up in its newer facilities reflect the growing demand for high-end institutional healthcare facilities

Large Indian corporates relying more on global sources for debt and equity finance creates challenges and vulnerabilities, and it is time to further strengthen Indian underwriting and capacity building, the chairman of the Kotak Mahindra Bank has said

The RBI's inflation forecast is 6.7 percent for FY23, which is slightly above its upper tolerance limit of 6 percent. Uday Kotak believes inflation is a key risk

China's factory activity has shrunk consecutively for two months, and its exports have plunged to the lowest since February 2020. This provides a "unique opportunity" to India to find a reasonable share in the global manufacturing market, Uday Kotak said.