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“In the aftermath of Covid, it is important to find a resolution mechanism through a market determined price discovery” CII President Uday Kotak said.(Bloomberg)

India needs multiple bad banks to clean balance sheets of lenders, get credit growth back: CII

By Press Trust of India | Posted by Ayshee Bhaduri | New Delhi
PUBLISHED ON DEC 20, 2020 05:38 PM IST
“As the economy recovers, credit demand from industry will expand. Banks need to gear up to meet this demand. Market mechanism based multiple bad banks can help clean up banks’ balance sheets, encouraging them to lend,” CII stated.
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Uday Kotak, chairman of Kotak Mahindra Bank Ltd(File photo)
Uday Kotak, chairman of Kotak Mahindra Bank Ltd(File photo)

How Uday Kotak, world’s richest banker, made $16 billion after a brush with death

By Bloomberg| Posted by Mallika Soni
UPDATED ON DEC 18, 2020 12:18 PM IST
Kotak, now 61, has a fortune estimated at $16 billion, according to the Bloomberg Billionaires Index.
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Uday Kotak is founder managing director and promoter of the bank, while Apte was appointed as the part-time Chairman of the bank at the annual general meeting held on July 19, 2018, for a period from July 20, 2018, till December 31, 2020.(Bloomberg)
Uday Kotak is founder managing director and promoter of the bank, while Apte was appointed as the part-time Chairman of the bank at the annual general meeting held on July 19, 2018, for a period from July 20, 2018, till December 31, 2020.(Bloomberg)

RBI clears re-appointment of Uday Kotak as MD of Kotak Mahindra Bank for 3 years

By Press Trust of India | Posted by Deepali Sharma | New Delhi
PUBLISHED ON DEC 14, 2020 10:20 PM IST
The banking sector regulator also approved the appointment of part-time chairman Prakash Apte for three years.
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Kotak Mahindra’s 2.7 trillion rupee market capitalization makes it India’s third-largest lender by value.(Mint Photo)
Kotak Mahindra’s 2.7 trillion rupee market capitalization makes it India’s third-largest lender by value.(Mint Photo)

Kotak Mahindra explores takeover of IndusInd bank

By Bloomberg| Posted by Susmita Pakrasi | Bloomberg
PUBLISHED ON OCT 26, 2020 12:37 AM IST
A deal would cement Kotak Mahindra’s position as one of India’s leading private banks, boosting its assets by about 83%.
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The RBI panel will examine the existing licensing guidelines and regulations on ownership and control of private sector banks.(Pradeep Gaur/Mint File Photo)
The RBI panel will examine the existing licensing guidelines and regulations on ownership and control of private sector banks.(Pradeep Gaur/Mint File Photo)

Central bank sets up panel to review ownership of private lenders

By Gopika Gopakumar | Mint, Mumbai
UPDATED ON JUN 13, 2020 08:23 AM IST
The need to examine the current guidelines on ownership comes after large shareholders of private sector banks sought RBI’s permission to raise their stakes beyond the permitted 15%.
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Uday Kotak, managing director and CEO of Kotak Mahindra Bank Limited, is the new president of industry association Confederation of Indian Industry (CII)(Bloomberg)
Uday Kotak, managing director and CEO of Kotak Mahindra Bank Limited, is the new president of industry association Confederation of Indian Industry (CII)(Bloomberg)

‘Return to pre Covid-19 growth will take a year’, says Kotak Mahindra CEO

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON JUN 08, 2020 05:25 AM IST
Uday Kotak said we are in a completely new era post Covid-19 and thus, revival cannot be evaluated on average.
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Kiran Mazumdar-Shaw was picked from among 46 award winners from 41 countries and territories vying for the world title.
Kiran Mazumdar-Shaw was picked from among 46 award winners from 41 countries and territories vying for the world title.

Kiran Mazumdar-Shaw named EY World Entrepreneur 2020

By HT Correspondent | Hindustan Times, New Delhi
PUBLISHED ON JUN 06, 2020 05:10 AM IST
Kiran Mazumdar-Shaw was picked from among 46 award winners from 41 countries and territories vying for the world title. I
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Reacting to the news about Moody’s Investors Service downgrading India’s sovereign rating by a notch, Kotak said that there is an urgent need to get growth back and change the perception that the country’s trend growth is slowing down .Photo by Ravi Kumar/Hindustan Times
Reacting to the news about Moody’s Investors Service downgrading India’s sovereign rating by a notch, Kotak said that there is an urgent need to get growth back and change the perception that the country’s trend growth is slowing down .Photo by Ravi Kumar/Hindustan Times

Extraordinary efforts needed to lift the economy: Uday Kotak

By Gopika Gopakumar | Hindustan Times, Mumbai
PUBLISHED ON JUN 03, 2020 04:23 AM IST
Speaking at the Confederation of Indian Industry (CII) annual session 2020, Kotak, the association’s president-elect, said that the government, banks and India companies will have to work together to get growth back on track.
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Kotak Mahindra Bank is the fourth largest private sector lender in the country.(Bloomberg File Photo)
Kotak Mahindra Bank is the fourth largest private sector lender in the country.(Bloomberg File Photo)

Uday Kotak to sell 2.8% stake in Kotak Mahindra Bank

By Press Trust of India | Posted by Kanishka Sarkar | Mumbai
PUBLISHED ON JUN 01, 2020 08:31 PM IST
As per the term sheet, the deal would be worth Rs 6,800 crore at the lower end of the price band.
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Uday Kotak, Founder, MD and CEO of Kotak Mahindra Bank Ltd, during the Hindustan Times Mint-Asia Leadership Summit, in Singapore, on Friday, September 6(HT Photo)
Uday Kotak, Founder, MD and CEO of Kotak Mahindra Bank Ltd, during the Hindustan Times Mint-Asia Leadership Summit, in Singapore, on Friday, September 6(HT Photo)

HT-MintAsia Leadership Summit: Real estate, financial services in India poised for consolidation, says Uday Kotak

By Ka Kay Lum | Singapore
UPDATED ON SEP 06, 2019 05:07 PM IST
Speaking at the HT-MintAsia Leadership Summit in Singapore on Friday, Uday Kotak said banks need to be very alert because no one knows “who’s going to eat your lunch the next day.”
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Uday Kotak’s argument highlights the importance Indians attach to gold, which also determines their risk perception about various asset classes.(HT PHOTO)
Uday Kotak’s argument highlights the importance Indians attach to gold, which also determines their risk perception about various asset classes.(HT PHOTO)

Why Uday Kotak believes equity beats gold investments

By Gireesh Chandra Prasad | Livemint, New Delhi
UPDATED ON SEP 03, 2019 05:23 PM IST
Billionaire banker Uday Kotak believes there should be a new policy that will reset investor priority to equity, a more productive asset than the precious metal.
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Milind Deora(HT Photo)
Milind Deora(HT Photo)

Big business in politics: Story of rising power, presence

By Smruti Koppikar | Hindustan Times
UPDATED ON APR 25, 2019 10:24 AM IST
If only a change of government and party in power were as simple as a video endorsement, politicians would not be juggling electoral arithmetic and there wouldn’t be a booming electoral economy
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Mukesh Ambani also spoke about creating new employment for the talented youth in micro-enterprises and large businesses.(PTI File)
Mukesh Ambani also spoke about creating new employment for the talented youth in micro-enterprises and large businesses.(PTI File)

In 137-second video, Mukesh Ambani talks about ‘the man for South Mumbai’

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON MAY 02, 2020 08:05 PM IST
The industrialist also spoke about creating new employment for the talented youth in micro-enterprises and large businesses.
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The Serious Fraud Investigation Office this month started an investigation into IL&FS.(File Photo)
The Serious Fraud Investigation Office this month started an investigation into IL&FS.(File Photo)

India considers option of selling debt-ridden lender

By Shruti Srivastava | Bloomberg, New Delhi
PUBLISHED ON OCT 30, 2018 04:31 PM IST
India is examining options including an outright sale of Infrastructure Leasing & Financial Services Ltd., a person with knowledge of the matter said, as the government tries to stem defaults at the lender with $12.6 billion of debt.
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The government-appointed board of directors of Infrastructure Leasing & Financial Services Ltd (IL&FS) board will update the National Company Law Tribunal (NCLT) on 31 October about the revival plan, after which it will seek consent from lenders and shareholders.(Mint Photo)
The government-appointed board of directors of Infrastructure Leasing & Financial Services Ltd (IL&FS) board will update the National Company Law Tribunal (NCLT) on 31 October about the revival plan, after which it will seek consent from lenders and shareholders.(Mint Photo)

IL&FS board to invite bid for assets by December

By Gireesh Chandra Prasad | Hindustan Times
PUBLISHED ON OCT 25, 2018 11:15 PM IST
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PF6997 New development in Bandra Kurla Complex area, Mumbai, Maharashtra, India.(Alamy Stock Photo)
PF6997 New development in Bandra Kurla Complex area, Mumbai, Maharashtra, India.(Alamy Stock Photo)

Govt takes over indebted lender IL&FS in surprise move

By Saloni Shukla | Bloomberg
UPDATED ON OCT 01, 2018 06:27 PM IST
he dramatic move, which unfolded within the span of a hectic day in Mumbai, underscores the government’s concern about IL&FS’s defaults spreading to other lenders in the world’s fastest-growing major economy.
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Gross bad loans as a percentage of total loans fell to 2.17% at end-June, compared with 2.22% in the preceding quarter and 2.58% a year ago.(Pradeep Gaur/ Mint)
Gross bad loans as a percentage of total loans fell to 2.17% at end-June, compared with 2.22% in the preceding quarter and 2.58% a year ago.(Pradeep Gaur/ Mint)

Kotak Mahindra Bank Q1 profit rises 12.3%, misses estimates

By Reuters | Reuters
UPDATED ON JUL 19, 2018 01:20 PM IST
Net profit was Rs 1025 crore ($148.84 million) for the three months ended June 30, compared with Rs 9.13 billion a year ago, the lender, led by Asia’s richest banker Uday Kotak, said in a statement.
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Prime Minister Narendra Modi met industry leaders at Raj Bhavan in Mumbai on Tuesday, June 26.(Kunal Patil/HT Photo)
Prime Minister Narendra Modi met industry leaders at Raj Bhavan in Mumbai on Tuesday, June 26.(Kunal Patil/HT Photo)

Malavika’s Mumbaistan: Power pow-wow

By Malavika Sangghvi | Hindustan Times, Mumbai
UPDATED ON JUN 28, 2018 12:27 PM IST
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Uday Kotak, billionaire and chairman of Kotak Mahindra Bank Ltd., right, speaks to an attendee ahead of the World Economic Forum (WEF) in Davos, Switzerland, on Monday, Jan. 22, 2018.(Simon Dawson/Bloomberg)
Uday Kotak, billionaire and chairman of Kotak Mahindra Bank Ltd., right, speaks to an attendee ahead of the World Economic Forum (WEF) in Davos, Switzerland, on Monday, Jan. 22, 2018.(Simon Dawson/Bloomberg)

Uday Kotak seeks waiver to bid for hotel Ivanka Trump stayed in

By Anto Antony | Bloomberg
PUBLISHED ON JUN 21, 2018 12:45 PM IST
A court-appointed insolvency professional asked bidders for Golden Jubilee Hotels Ltd. to pay an upfront deposit of Rs1 million ($15,000) while submitting an expression of interest.
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(Lto R) Ashok Gehlot and Rahul Gandhi.
(Lto R) Ashok Gehlot and Rahul Gandhi.

Malavika’s Mumbaistan: Out with the old

By Malavika Sangghvi | Hindustan Times, Mumbai
UPDATED ON APR 03, 2018 11:16 AM IST
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Vice-chairperson and managing director of Kotak Mahindra Bank Uday Kotak speaks as Infosys co-founder & non-executive chairperson Nandan Nilekani looks on, during a press conference in Mumbai on Tuesday.(PTI Photo)
Vice-chairperson and managing director of Kotak Mahindra Bank Uday Kotak speaks as Infosys co-founder & non-executive chairperson Nandan Nilekani looks on, during a press conference in Mumbai on Tuesday.(PTI Photo)

Private banks will form 50% of India’s banking sector in five years, says Uday Kotak

By HT Correspondent | Indo Asian News Service
UPDATED ON MAR 21, 2018 11:43 AM IST
Kotak said this huge jump in the market share will be driven by digital technology, Aadhaar based electronic KYC (Know your customer) and data driven lending.
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