Billionaire Uday Kotak resigns from Kotak Mahindra Bank as MD & CEO

Uday Kotak will continue to serve as a non-executive director in Kotak Mahindra Bank

Uday Kotak's tenure as the CEO and MD of the Kotak Mahindra Bank ends on December 31, 2023.

Until then, The bank's Joint Managing Director Dipak Gupta will carry out the duties of the Managing Director & CEO, subject to RBI and members approval.

Uday Kotak started Kotak Mahindra 38 years ago, with 3 employees in a 300 sqft office in Fort, Mumbai.

Since then, the bank has created over 1 lakh direct jobs and delivered a return of 39% CAGR to its investors.

According to Uday Kotak, An investment of Rs 10,000 with us in 1985 would be worth around Rs 300 crore today