The First Self- Made Billionaire Banker Uday Kotak

Uday Kotak is India's first self made billionaire banker. He is the Vice Chairman and Managing Director of Kotak Mahindra Bank. Kotak Mahindra is the 3rd largest private sector bank of India. It is also called nationalist bank because there is no foreign investors in this bank. 

He was born on 15 March 1959 in Mumbai Maharashtra. His father's name is Ramesh Kotak who had returned to India from Karachi after partition. 

He belongs to a joint family. There are 60 members in his family. His family do the business of Cotton agriculture commodities. 

He completed his Matriculation from Hindi Vidya Bhavan School Mumbai. He completed his Bachelor of Commerce from Sydenham College Of Commerce and Economics Mumbai. He completed his Master of Commerce from Jamnalal Bajaj Institute Of Management Studies Mumbai. 

He was married with Pallavi kotak. He has two children. 

He has keen interest in Cricket and Mathematics. He is a very good Crickter. He wanted to play Indian Cricket team but unfortunately due to a fatal accident he left Cricket. He plays Cricket very well. He is a very good left arm spinner. He is also right hand batsman. He is the Captain of his school's team. He had been playing for many years for the Kanga league of Mumbai that is an important league of Mumbai. He also won many medals in Cricket. 

After completing His M. Com he joined Hindustan Unilever that is popular and number one Company in Fast moving selling goods in India. He earned more money and left the Company to start his own business. 

He started his own business in bill discounting area. He provided financial support to many organizations in Mumbai Maharashtra. He is also a very good communicator. He explained that Commercial banks provide 6 percent interest to depositer and charged 16.5 percent from borrowers. It is unethical and big barrier in the development of business. Bombay is the Capital of Indian business so every business man understood it and started business with him. He provided a huge financial amount of Nalco that is subsidiarity Company of Tata at 12 percent per year. His idea got success and every business man wanted to do business with him. 

After getting profit he established Kotak Mahindra Financial Ltd. He invested 30 lakh rupees. He is a fast friend of Anand Mahindra who is a successful and popular industrialist of India. He was inspired by the idea of Uday so he also invested a huge amount of money in Kotak. This investment plays a very important role for the development of Kotak. There are many hundreds lndustralist live in Mumbai. All industrialist gave inspiration from the investment of Anand and they also started investing in Kotak. 

Kotak provided different types of service. These services are automobile financing, investment banking, mutual funds services, private equity and so on. 

He converted Kotak Mahindra Finance Ltd. Into Commercial bank after getting the licence of Reserve Bank of India. 

Kotak Mahindra became India's first non banking financial company to start it's function in the area of Commercial banking. 

There are many unique features it provides to customers under the leadership of Uday Kotak. These features are as below-

1. It is the first Indian bank to start video base service to know Your customers. 

2. It also provides e-sign facality to provide loan to micro, small and medium enterprises. In this process there is no physical interaction between bank and customers. 

3. It also provides Digi Home Loans facality in which home loans are sanctioned without meeting any employee of bank. 

All these innovative steps save time, energy, effort and resource of customers so customers are very satisfied to the service of bank. 

Besides above there are many organization they belong and provide their valuable idea, thought, vision and opinion for the development of nation. These committee are as below-

1. He is a member of the Board of Governance of National Institute of Securities Market. 

2. He is also the member of ICRIER. 

3. He is also the member of High level committee of the Securities and exchange board of India.