CURRENT AFFAIRS

Detailed explanation-1: -Mr. Uday Kotak, aged 62 years, holds a Bachelor’s degree in Commerce and a MMS degree from Jamnalal Bajaj Institute of Management Studies, Mumbai and was appointed as a Director on 21st November, 1985. He is the Managing Director & CEO of the Bank and also its promoter.

Detailed explanation-2: -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.

Detailed explanation-3: -In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

Detailed explanation-4: -It is India’s second largest private sector bank by market capitalisation as of November 2021. As of February 2021, the bank has 1600 branches and 2519 ATMs.