Trending news: Borrowed investment company, now India’s 10th richest man, Uday Kotak skyrocketed in 25 years

New Delhi. Uday Kotak, Vice Chairman and Managing Director of Kotak Mahindra Bank, who dreamed of becoming a cricketer in childhood, could not become a cricketer due to injury but is hitting a lot of fours and sixes on the business pitch. Uday, who was once a cotton trader, did not like his family business much. He chose to stay away from the family. Borrowed Rs 30 lakh from friends and family and opened an investment company. After this, he never looked back. According to Forbes rich list (Forbes rich list 2023), today he is the tenth richest man in India. His total net worth (Uday Kotak Net Worth) is Rs 1.15 Lakh Crore ($14.80 Billion). He is the richest banker of India.

Uday Kotak was born in Mumbai. He obtained his Bachelor’s degree in Commerce from Sydenham College, Mumbai. After this, he did MBA from Jamnalal Bajaj Institute of Management Studies. After completing his studies, Uday joined his family’s cotton trading business. But, his mind was not engaged in his family business. He opened an investment company in the year 1985 by collecting Rs 30 lakh from family and friends. Later he partnered with Mahindra Group and the name of this company became Kotak Mahindra Finance. Uday Kotak gradually expanded his portfolio into stock broking, investment banking, insurance, mutual funds.

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Got banking license in 2003
Uday Kotak got a banking license from the Reserve Bank of India in the year 2003 and thus Kotak Mahindra Bank started. Today Kotak Mahindra Bank is counted among the major private banks of India. Today the market capitalization of Kotak Mahindra Bank is Rs 3.78 lakh crore. The special thing is that Kotak Mahindra Bank also performed well during the Corona epidemic. Uday Kotak had never openly given loans to the risky sector. This was the reason that the performance of the bank was better even in times of crisis.

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love at first sight
Uday Kotak is married to Pallavi Kotak. Uday met Pallavi in ​​1985. Two months after meeting for the first time, Uday had decided to marry Pallavi. Uday has two sons. His son Jay is a graduate of Harvard Business School and has been working in Kotak Mahindra Bank since 2017.

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