Uday Kotak

Uday Suresh Kotak (born 15 March 1959) is an Indian billionaire banker and the executive vice chairman and managing director of Kotak Mahindra Bank.

In the early 1980s, while India was still a closed economy and economic growth was muted, Kotak decided to start out on his own, refusing a lucrative job option from a multinational. Over the next few years, he diversified his business into various areas of financial services, establishing a prominent presence in bills discounting, stockbroking, investment banking, car finance, life insurance and mutual funds. On 22 March 2003, Kotak Mahindra Finance Ltd. became the first company in India’s corporate history to receive a banking license from Reserve Bank of India.

Bloomberg Billionaires Index estimated his wealth to be US$14.8 billion as of April 2021. In 2006 he and Goldman Sachs ended their 14 year partnership when Goldman Sachs sold their 25% stake in two subsidiaries for $72 million to Mr. Kotak.