Veteran banker Uday Kotak, who is known for his candid views, took to Twitter to offer advice for investors. “In life as in cricket complacency or overconfidence is lethal. As Indian markets go up same is true. It is said ‘only paranoid survive’!” the 58-year-old CEO of Kotak Mahindra Bank said on Twitter.
In Sunday’s Champions Trophy 2017 final, pre-tournament favourite India, led by Virat Kohli, lost to Pakistan by 180 runs. As a young 26-year old entrepreneur in 1985, Uday Kotak started Kotak Capital Management Finance, which later became Kotak
In March 2003, Kotak Mahindra Finance became the first NBFC or non-banking financial company in India’s corporate history to be converted into a bank.
A self-made billionaire, Mr Kotak is ranked among the richest in Forbes list. Had he not been a successful entrepreneur, the eminent banker told Financial Times in a 2014 interview, he would have “loved to have been a cricketer”.
He had earlier recounted his passion for the game in a Facebook post. “Cricket for me always has been a passion. As a youth I used to be a great believer in cricket, used to play cricket. And then I was hit by a cricket ball at the age of 20 after which I could not play cricket.”
Kotak Mahindra Bank is one the top private lenders with a loan book of Rs. 1.67 lakh crore. Today, Kotak Mahindra Group, a first generation enterprise with a net worth of Rs. 33,361 crore, has a global presence and employs over 46,500 people. The group has the distinction of providing a 40 per cent compound annual growth rate to its shareholders over a 30-year period.
Uday Kotak holds a Bachelor’s degree in Commerce and an MBA from Jamnalal Bajaj Institute of Management Studies, Mumbai.