Uday Kotak

Ashneer Grover, co-founder and managing director of the $3-billion fintech BharatPe, said he has taken a voluntary leave of absence till March-end. The decision came amid growing scrutiny and pressure over the alleged use of abusive language against a Kotak employee, toxic culture at BharatPe and Grover's abrasive behaviour on the show Shark Tank. Moneycontrol pieces together the story so far and what's next for the startup #AshneerGrover #BharatPe

BharatPe's co-founder and MD Ashneer Grover and wife Madhuri Grover sent a legal notice to Kotak Mahindra Bank's managing director and chief executive officer Uday Kotak, one of India's top bankers, and his senior management, accusing the bank of failing to secure financing and allocation of shares in an IPO launched by beauty firm Nykaa. The notice was sent on October 30, 2021, but assumes significance after a leaked audio call that has Grover allegedly abusing and threatening a Kotak employee on this issue, went viral. Watch the video to know what transpired #UdayKotak #AshneerGrover #AshneerGrovervsUdayKotak

HDFC Bank, in a web page titled ‘use of unparliamentary language by customers’ addressed customers’ rude behaviour towards staff, and gained kudos on social media.

Kotak Mahindra's stock has underperformed both the Nifty and Bank Nifty in the last three months as its overly cautious approach to growth often doesn’t go down well with growth-hungry investors. More recently, the capping of private bank CEO’s tenure to 15 years by the RBI has raised questions about the bank’s future leadership as founder CEO Uday Kotak’s term ends on December 2023.

The quality of growth at Kotak Bank remains as strong as ever. There are good reasons to pick it on every decline. 

Kotak Mahindra Bank may benefit in the long term by acquiring IndusInd but any bank merger comes with prolonged integration issues. Is this the right time?

Kotak Mahindra said "right sectors" to invest in India include digital, e-commerce, technology, pharmaceutical and consumers.

Kotak concurred with the Reserve Bank of India, which said that borrowers who avail moratorium on their bank loans will have to pay the interest accrued during that period.

CII on June 4 laid out a 10-point road map to revive growth and navigate the challenges of loss of lives and livelihoods posed by the global pandemic Covid 19 that has forced countries across the world to reset their growth paths

Uday Kotak said the CII is committed to the government's Aatmanirbhar Bharat Abhiyan.

Moneycontrol's Sakshi Batra does a 3-Point Analysis on the development.

The move will bring the curtains down on an extended standoff between the regulator and the bank over the reduction in promoter shareholding.

"I am optimistic about India and I am optimistic about the economy," he said.

Kotak also said India needs a long-term solution to woes of public sector banks.

"After the IL&FS episode, 'inter-connected exposures' is a concern for markets," said Kotak.

This time around, IBA may apply only for Amber companies of IL&FS after a meeting with the Secretary of the Ministry of Corporate Affairs and new Uday Kotak-led board on January 22

Finance Minister Arun Jaitley said India can't have a real rate of interest that's higher than anywhere else in the world

"If you are taking out Rs 500 and Rs 1,000 notes, why would you introduce Rs 2,000 notes? " Uday Kotak asked.

The incremental new customer accretion will get slower until the bank comes up with new solutions on Aadhaar usage

The SEBI board also cleared various proposals including allowing stock exchanges to introduce shared co-location facilities,.