Despite his resignation as CEO and MD, Kotak will remain on the board of Kotak Mahindra Bank as a non-executive director.
In his early twenties, Kotak established a financial consultancy in an office space provided by his father.
Kotak, a graduate of Jamnalal Bajaj Institute of Management Studies and Sydenham College of Commerce and Economics, was hesitant to join his father’s family business. His family’s main business was cotton trading and agricultural commodity sales. He, on the other hand, took a different path and obtained a banking licence in 2003.
He currently owns a 26% stake in Kotak Mahindra Bank, which is worth more than Rs 3.5 lakh crore.