Uday Kotak

Meta, Facebook’s parent company, lost more than $200 billion market value on Thursday after a record 26% drop in shares.

Ashneer Grover has alleged that the board feels he will go from being the biggest strength to their biggest liability because he is headstrong.

Grover, in response to a LinkedIn post on Kotak, said the banker was a legend.

Business magnate Uday Kotak interpreted the acronym “MAMAA”, referring to the five largest tech companies, in a desi style, tweaking it to “MAAMA (uncle)”.

Interest rates being “close to zero” over the past couple of years around the world, investors turned to equity for better returns resulting in a Cinderella moment for startups, the executive chairman and managing director of Kotak Mahindra Bank explained.

It is to be noted that Grover had invested more than Rs 100 crore each in the IPOs of Zomato and CarTrade through IPO financing services provided by Kotak itself last year.

Kotak Group's statement confirmed Moneycontrol's report that it had received a notice from Ashneer Grover and his wife Madhuri Grover, accusing the bank of failing to secure financing and allocation of shares in an IPO launched by beauty firm Nykaa.

This new initiative would require companies to meet additional disclosure requirements to provide for higher quality of public information and greater transparency, NSE said.

To match the competition, Indian banks need to adopt a customer-centric instead of a sales-centric approach, said Uday Kotak, who is the founder and chief executive of Kotak Mahindra Bank.

In the case of Kotak Mahindra Bank, the RBI has already agreed to hike Uday Kotak’s stake in the bank to 26% while in the case of Hindujas, the road is now clear to acquire additional stake.

Twitter user tells Uday Kotak to "take responsibility" for "wrong" pricing of Paytm IPO — Uday Kotak responds saying it did not manage the IPO.

The Kotak Mahindra Bank CEO shared a tweet he had posted on Dussehra two years ago and wrote: “As planet crisis gets closer, I reiterate my conviction that being vegetarian is positive for the human race’s future.”

According to Uday Kotak, effective action must be taken to address all the challenges which are being considered as the "future generation’s problem".

Pratip Chaudhuri was arrested from his Delhi home by the Jaisalmer police on Sunday for his alleged role in crippled Rs 200 crore hotel project in the city sold for Rs 25 crore to Alchemist ARC in March 2014. Chaudhuri has been a director on the board of the ARC since his retirement in September 2013.

The case is related to Rs 24-crore loan taken by Gaudavan Group from SBI for construction of a new hotel.

The non-bank lender said it has approximately discharged Rs 14,100 crore of debt and has available cash balance of Rs 16,700 crore.

Uday Kotak was appointed by the government as the head of the lender's board in 2018 to help the troubled company come out of difficulties, after the state took over the board.

"While India was amongst the hardest hit, the silver lining is that we have a tremendous opportunity before us to turn adversity into success for our people," Uday Kotak said.

During the year, the bank has undertaken a mindset shift to make retail and commercial lending focus, in addition to the corporate and deposit franchise, the veteran banker said in his message at the 2020-21 annual report.

Kotak also said the budget for FY22 was conservative in revenue estimates because if which a 6.8 percent fiscal deficit can be managed.