'Jamie Dimon of India': Paytm's Vijay Shekhar Sharma on Uday Kotak

Equating Kotak with the JP Morgan Chase CEO, the Paytm boss described the Kotak Mahindra Bank founder as a ‘True legend of Indian Banking.’

Published on: Dec 24, 2023, 19:07:35 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

Paytm founder Vijay Shekhar Sharma on Sunday equated former Kotak Mahindra Bank MD and CEO, Uday Kotak, to JP Morgan Chase CEO Jamie Dimon, and called Kotak a ‘True legend of Indian Banking.’

Uday Kotak, ex-MD and CEO of Kotak Mahindra Bank Limited. (PTI/File Photo)

“I call fondly sir (Uday Kotak), our Jamie Dimon of India. True legend of Indian Banking,” Sharma wrote on X (formerly Twitter) in response to a post from Jay Kotak, Uday's son and the co-head of Kotak 811, Kotak Mahindra Bank's mobile banking app.

In 1985, Uday Kotak, now India's richest banker with a real time net worth of $14 billion (as per Forbes), founded Kotak Capital Management Finance, an investment and financial services company that he converted into a bank in 2003. This made Kotak Mahindra India's first non-banking finance company (NBFC) to be converted into a bank.

The Mumbai-headquartered bank is among the country's top four private sector banks.

In September, the veteran banker, 64, announced he was stepping down as MD and CEO of Kotak Mahindra Bank, four months ahead of his scheduled retirement from the coveted post. He was succeeded by Ashok Vaswani in the role.

Also Read | Uday Kotak resigns: From aspiring cricketer to India's richest banker – the journey

In October, Uday Kotak was ranked by Forbes India as the fifteenth wealthiest person in the country in 2023.

Jamie Dimon, meanwhile, has been the Chairman and CEO at JP Morgan Chase since 2005, and is a billionaire himself.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.