21 November,2025 03:00 PM IST | Mumbai | mid-day online correspondent
Uday Kotak reflected on the bank`s milestone in a social media post. Pic/X
Kotak Mahindra Bank Ltd., the bank founded by Uday Kotak, marked 40 years of operations on Friday and has grown from a modest capital of Rs 30 lakh in 1985.
The bank, reportedly today, has a market capitalisation of Rs 4.2 lakh crore.
Uday Kotak reflected on the milestone in a post on X while sharing some of the old pictures.
"Forty years ago today, I started a company with Rs 30 lakh capital, in a 300 sq ft office in Fort, Mumbai. Today that company, which I ran for 38 years, is Kotak Mahindra Bank. As this Indian institution navigates changing times, may it prosper. Happy Birthday⦠tum jiyo hazaaro saal," he wrote.
Kotak Mahindra Bank's story began in 1985, when Uday Kotak - uninterested in joining his family's textile business - set up Kotak Capital Management Finance Ltd., an offshoot of his family firm Kotak & Co., with an initial capital of Rs 30 lakh.
Soon after, Anand Mahindra, Chairman of the Mahindra Group, who had just returned from Harvard University, invested Rs 4 lakh so that both names could be part of the company.
Anand Mahindra also congratulated Kotak on the bank's 40-year journey. He described it as one of his "greatest privileges" to support Kotak as a "friend, believer, and admirer".
"Your journey is truly the stuff of legend, Uday," Mahindra wrote on X while sharing a photograph from his archives. "And I'll keep cheering, even louder, for you and your team as you aim for the next horizon."
About Kotak Mahindra group
Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. 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 (KMBL).
Kotak Mahindra Group (Group) offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life and general insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The premise of Kotak Mahindra Group's business model is concentrated India, diversified financial services. The bold vision that underscores the Group's growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked.
Kotak Mahindra Group has a global presence through its subsidiaries in UK, USA, Gulf Region, Singapore and Mauritius with offices in London, New York, Dubai, Abu Dhabi, Singapore and Mauritius respectively. As on 31st March 2025, Kotak Mahindra Bank Ltd has a national footprint of 2,148 branches and 3,295 ATMs (incl. cash recyclers), and branches in GIFT City and DIFC (Dubai).
