‘Jamie Dimon of India’: Paytm’s Vijay Shekhar Sharma on Uday Kotak

Paytm founder Vijay Shekhar Sharma on Sunday equated former Kotak Mahindra Bank MD and CEO, Uday Kotak, to JP Morgan Chase CEO Jamie Dimon, and called Kotak a ‘True legend of Indian Banking.’

Uday Kotak, ex-MD and CEO of Kotak Mahindra Bank Limited. (PTI/File Photo)
Uday Kotak, ex-MD and CEO of Kotak Mahindra Bank Limited. (PTI/File Photo)

“I call fondly sir (Uday Kotak), our Jamie Dimon of India. True legend of Indian Banking,” Sharma wrote on X (formerly Twitter) in response to a post from Jay Kotak, Uday’s son and the co-head of Kotak 811, Kotak Mahindra Bank’s mobile banking app.

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In 1985, Uday Kotak, now India’s richest banker with a real time net worth of $14 billion (as per Forbes), founded Kotak Capital Management Finance, an investment and financial services company that he converted into a bank in 2003. This made Kotak Mahindra India’s first non-banking finance company (NBFC) to be converted into a bank.

The Mumbai-headquartered bank is among the country’s top four private sector banks.

In September, the veteran banker, 64, announced he was stepping down as MD and CEO of Kotak Mahindra Bank, four months ahead of his scheduled retirement from the coveted post. He was succeeded by Ashok Vaswani in the role.

In October, Uday Kotak was ranked by Forbes India as the fifteenth wealthiest person in the country in 2023.

Jamie Dimon, meanwhile, has been the Chairman and CEO at JP Morgan Chase since 2005, and is a billionaire himself.

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