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Our Story

From launching Kotak Mahindra Finance Ltd. in 1985 to becoming one of the country’s most trusted financial institutions today, it’s been quite a journey.
Here are some of the biggest milestones we've crossed along the way.

2018

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2015

2014

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1987

1985

Buyout of 26% Old Mutual plc UK (OM) stake in Kotak Mahindra Old Mutual Life Insurance Limited

Launch of Kotak Infrastructure Debt Fund Limited

Kotak Mahindra Bank Acquires BSS Microfinance Private Limited

Kotak Mahindra Bank Unveils Bold Organic Growth Charter with 811

Kotak Mahindra Bank Receives RBI's nod to Set-up Kotak Infrastructure Debt Fund Limited

Kotak Mahindra Bank Announces to Buy Out 26% of Old Mutual's JV Stake in Kotak Mahindra Old Mutual Life Insurance

Kotak Mahindra Bank Raises Rs. 5,800 Crore Through QIP Issuance

Acquisition of 10,00,000 equity shares of Institutional Investor Advisory Services India Ltd.

Acquisition of 9,83,82,022 (19.90%) equity shares of Airtel M Commerce Services Ltd. Co.(AMSL)

Launch of international banking unit in GIFT City, Gandhinagar, Gujarat.

Acquisition of BSS Microfinance Pvt. Ltd.

RBI approves merger of ING Vysya Bank with Kotak Mahindra Bank effective April 1, 2015.

Kotak Mahindra General Insurance receives IRDA Approval to commence insurance business.

Innovative solutions such as Jifi and KayPay launched for digital and social media.

Acquisition of 15% equity stake in Multi Commodity Exchange of India Ltd. (MCX)

Launch of pension fund under India's National Pension System (NPS)

Opening of the Bank’s representative office in Dubai.

We buy out Goldman Sachs’ equity stake in KMCC and Kotak Securities Ltd.

Realignment of joint venture with Ford Credit International

Real Estate fund launched by Kotak Alternate Assets.

Kotak Mahindra Group enters alternate assets business with the launch of a private equity fund

KMFL becomes India’s first non-banking finance company to be converted into a commercial bank.

Launch of Kotak Mahindra Old Mutual Life Insurance Ltd. in partnership with Old Mutual PLC.

India’s first gilt fund launched through Kotak Mahindra Asset Management company (KMAMC).

Launch of Kotak Mahindra Primus Ltd. (now Kotak Mahindra Prime Ltd.), a joint venture with Ford Credit.

Kotak Mahindra takes a significant stake in Ford Credit Kotak Mahindra Ltd., for financing Ford vehicles.

Launch of KMCC, a joint venture with Goldman Sachs Group for investment banking.

Investment banking division established.

Launch of auto finance division for financing passenger cars.

Entry into lease and hire purchase business.

Kotak Mahindra Finance Ltd. commences bill discounting business.

Leading from the front

Our Group Management Council comprises some of the most prominent leaders in the world of finance. It is responsible for driving and overseeing Kotak Mahindra Group’s growth charter.

Uday Kotak

Managing Director and CEO, Kotak Mahindra Bank

Uday Kotak, Founder and Managing Director & CEO of Kotak Mahindra Bank, has led the group in a broad range of financial services for over 35 years. Uday believes that the true measure of performance is sustainable value creation. The Group’s vision for equitable prosperity extends beyond financial services. The Kotak Education Foundation works with some of India’s most economically underprivileged communities, attempting to alleviate poverty through education and livelihood programmes.

Uday KotakManaging Director and CEO

Dipak Gupta

Joint Managing Director, Kotak Mahindra Bank

Dipak Gupta helms numerous functions including Vigilance, Internal Audit, Human Resources, IT including Cyber Security, Digital Initiatives, Customer Experience, Marketing & Communications, Environment Social Governance (ESG) and Corporate Social Responsibility (CSR). Dipak has played a key role in building various businesses for Kotak Mahindra Group. He was instrumental in forging the partnership between Kotak Mahindra Finance Ltd (KMFL) and Ford Credit International to form Kotak Mahindra Primus Limited, of which he was the first CEO. Dipak was also responsible for setting up the retail business following the conversion of KMFL into a bank.

Dipak GuptaJoint Managing Director

Shanti Ekambaram
Group President – Consumer Banking

Shanti Ekambaram heads Consumer Banking and is focused on growing an integrated Consumer Banking Franchise across asset and liability products. Before taking over the reins of consumer banking, Shanti set up several businesses and was the head of the bank's corporate and investment banking business.

D Kannan
Group President – Commercial Banking

D Kannan heads one of the Strategic Business Units (SBU) of Kotak Mahindra Bank - the Commercial Banking business, since August 2014. His SBU encompasses Agri Finance, Commercial Vehicles, Construction Equipment, Tractor Finance, and Microfinance. In his near three decades at Kotak Mahindra Group, Kannan has spearheaded various businesses.

Gaurang Shah
Whole-time Director & Group President

Gaurang Shah is a whole-time director on the board of Kotak Mahindra Bank. He oversees the Insurance, Asset Management including Alternate Assets and Asset Reconstruction businesses and is Non-Executive Director on the boards of the insurance, asset management and international business entities, which are wholly owned subsidiaries of Kotak Mahindra Bank. Gaurang has over 35 years of experience largely in financial services, of which over 23 years have been with the Kotak Mahindra Group.

Jaideep Hansraj
Managing Director & Chief Executive Officer
Kotak Securities

Jaideep Hansraj recently assumed charge as MD & CEO of Kotak Securities, the broking arm of Kotak Mahindra Group. He has been with Kotak for over two decades. Prior to this role, Jaideep was head of the Bank’s Wealth Management, Priority Banking and NR business. Under his leadership, Kotak Wealth Management has emerged as the leading wealth management firm in India and has won several accolades and recognition across the industry.

Jaimin Bhatt
Group President & Group Chief Financial Officer

Jaimin Bhatt spearheads Finance, Tax, Strategy, Legal, Secretarial & Investor Relations and also oversees Operations and Facilities. He has been the Group CFO since 2003. He has over 36 years of experience in the financial sector, 26 years of which have been with the Kotak Mahindra Group.

KVS Manian
Whole-time Director & Group President - Corporate, Institutional, Investment Banking & Wealth Management

KVS Manian heads Corporate, Institutional & Investment Banking, and is building a high-quality corporate franchise that offers integrated corporate and investment banking solutions. He also oversees the Wealth Management business. Prior to this, Manian spearheaded the consumer banking business for about eight years.

Nilesh Shah
Group President & Managing Director - Kotak Mahindra Asset Management Company (KMAMC).

Nilesh brings more than 25 years of experience in financial and capital markets, and has managed funds across equity, fixed income securities and real estate for local and global investors. A gold medalist chartered accountant and a merit ranking cost accountant, Nilesh’s hobbies include reading and educating investors on financial planning. He has co-authored a book on Financial Planning called "A Direct Take".

Paul Parambi
Group President & Chief Risk Officer

Paul Parambi heads Risk Management for the Bank, and is responsible for embedding a common framework and practises for managing risk across the Bank. He is the convener of the Risk Management Committee, and is a member of the Credit Committee, Fraud Risk Management Committee and ALCO. Prior to this, Paul has handled several leadership roles within the Bank and the Group, including heading credit for the Consumer and Commercial Bank, heading Group Strategy, as also leading Kotak’s International Business.

S. Sriniwasan
Managing Director
Kotak Investment Advisors Limited

S. Sriniwasan (Srini) joined the Kotak Mahindra Group in 1993 and was part of the core team that built the Investment Banking franchise. Thereafter, he founded the Alternative Asset Management business, which presently manages capital for Private Equity, Infrastructure, Real Estate, Distressed/Special Situations, Listed Strategies as well as Investment Advisory for Private Clients & Family Offices.

Virat Diwanji
Group President – Retail Liabilities & Branch Banking

In his two and a half decade long innings at Kotak, Virat has led over 10 diverse business lines cutting across Assets and Liabilities. He took on the mantle of managing the branch banking business in November 2007. Some of his career milestones include managing the first JV of the Group with an overseas partner, Ford Credit as its Managing Director. In the recent past, Virat has successfully managed the integration of ING Vysya Bank’s retail distribution network with the branch banking network of Kotak.

Kotak has evolved over the years...

1996