Quotes by: Uday Kotak

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Uday Kotak
Born (1959-03-15) 15 March 1959 (age 57)
Residence Mumbai, Maharashtra State, India
Nationality Indian
Alma mater University of Mumbai
Occupation Founder and chairman of Kotak Mahindra Bank
Net worth US$8.3 billion (Sep 2016)[1]
Spouse(s) Pallavi Kotak
Children 2

There's no harm being a copycat. If someone else is doing a good job, copy. It's free.
Uday Kotak
We are going to position ourselves as a world-class financial institution. We want to do things that are comparable to the best in the world. At the same time, we want to have very strong human qualities.
Uday Kotak
Our view is that younger customers love our digital offering, our mobile banking applications and so on. Older customers expect relationship managers and want much more personal attention in terms of their needs.
Uday Kotak
I am big believer that increase the size of the cake is as at least as important as distribution of the cake. To increase the size of the cake, you need to focus on progress.
Uday Kotak
We are extremely focused on building some of the assets which are going into mid-India, semi-urban and rural, and that's our DNA. We are building a retail bank, and a lot of the deposit base is still in urban India.
Uday Kotak
In equities, you price the risk. As far as debt is concerned, if the markets get more sophisticated where, for the levels of risks that you take, you get the debt returns, we will certainly look at it. It's back to a philosophy of risk-adjusted returns.
Uday Kotak
Culture is about the mindset of people, and we are very happy to have a strong combined mindset of people.
Uday Kotak
I have got nothing against family companies, but there must be real equity, that is all I say. It cannot be based on influence or political friendships. It has to be based on real equity backing their dreams.
Uday Kotak
Kotak Mahindra Bank has very significant presence in the West and the North, and our total branch network between these two regions is 80 per cent, and in case of ING Vysya Bank, their network in South is 64 per cent of their total branch network.
Uday Kotak
As long as there is cash, and the economy is running, all is well. But as a bank, we'll have to test, experiment, try a hundred different things. A few may work, a few may fail, but we have to experiment and try.
Uday Kotak
A lot of family members worked in the joint commodities family business. It was a classic case of capitalism at work and socialism at home.
Uday Kotak
My view is that the bitcoin is in its very early days, and it is an artificial currency. But whether it is creating new money, whether it is sustainable, whether it would survive - I have many questions about it.
Uday Kotak
What we have to be careful is that if we drop interest rates where the rate of interest is lower than inflation, then savers will not put money in financial savings and move it to gold and real estate, which is bad for India.
Uday Kotak
We encounter very healthy boardroom debates and pretty diverse views, so we have always had the benefit of diversity of opinion and expression before we take some important calls.
Uday Kotak
When I wear the hat of management, it is important that our management behaves and conducts as management accountable to the board.
Uday Kotak
I do believe that banks are special - they are very leveraged institutions by nature; therefore, it's even more critical to ensure that the governance and the process of running a banking company are well-organised, managed and regulated.
Uday Kotak
If you look at 2009, why did the recovery happen? Recovery happened because somebody in the world's largest economy opened the tap: the U.S., followed by Europe and now Japan.
Uday Kotak
For me, the real thing is make, serve and list in India. Which means we need manufacturing, we need services, and we need financial markets.
Uday Kotak
A weaker currency is a national tariff. After we get a weaker currency, we have to take advantage of that. Or else, we will waste it once more in inflation and in the inability to raise competitiveness.
Uday Kotak
The government should move towards supporting aspirations and not entitlement. Subsidies supporting non-productive growth should be reduced.
Uday Kotak
Younger customers are the future, but older customers have the money. So you need both: one for the present, and the other for the future.
Uday Kotak
I grew up in a joint family of 60 people with one kitchen. So I am a firm believer in the family concept.
Uday Kotak
If you ask me, over time, I am a believer in the Indian financial saving story getting stronger; a lot more savers are moving money away from gold and real estate into banks, mutual funds, insurance and equities.
Uday Kotak
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