I am delighted that the RBI has approved our recommendation, Ashok Vaswani,as the next CEO of Kotak Mahindra Bank. Ashok is a world class leader and banker with digital and customer focus . I am proud that we bring a ‘Global Indian’ home to build Kotak and India of tomorrow.
Succession at Kotak Mahindra Bank has been foremost on my mind, since our Chairman, myself and Joint MD are all required to step down by year end. I am keen to ensure smooth transition by sequencing these departures. I initiate this process now and step down voluntarily as CEO.
The bank awaits RBI approval of the proposed successor. In the interim my dear colleague Dipak Gupta - currently Joint MD, will function as MD & CEO, subject to approvals.
As Founder, I am deeply attached to brand Kotak and will continue to serve the institution as Non-Executive Director and significant shareholder. We have an outstanding management team to carry the legacy forward. Founders go away, but the institution flourishes into perpetuity.
A long time ago, I saw names like JP Morgan and Goldman Sachs dominate the financial world and dreamed of creating such an institution in India. It is with this dream that I started Kotak Mahindra 38 years ago, with 3 employees in a 300 sqft office in Fort, Mumbai. I have deeply cherished every bit of this memorable journey, living my dream.
We are now a pre-eminent bank & financial institution, created on the basic tenets of trust and transparency. We have created value for our stakeholders and provide over 1 lakh direct jobs. An investment of ₹10,000 with us in 1985 would be worth around ₹ 300 cr today.
I am confident that this Indian owned institution will continue to play an even more important role in India’s transformation into a social and economic powerhouse.
Buffet nuggets:
1.Think of equity investing as buying businesses in their entirety, not as buying stocks.
2.Look to invest in businesses which invest their capital conservatively and which seek to exist forever.
3.Avoid impatient people and impatient companies.
Unveiling the 'Meri Udaan' statue that has now travelled to Ahmedabad, a unique sculpture that is traversing across India and symbolizes the glorious journey of Indian women toward financial freedom. Kudos to their invincible spirit! #MeriUdaanMeriPehchaan#KotakSilk
As families get ready to welcome Ganesha into their homes, we are delighted to make it even easier to buy the home of one’s dream. Home Loans now at 6.50%. Wish everyone a happy festive season.
Kotak 811 introduces India’s first zero-contact, Video KYC Savings Account, so you can do a lot more, right from the comfort of home. Find out the perfect spot for your Kotak 811 Video KYC call!
#BankFromHome & live the #811VKYCLife.
To know more, visit: https://t.co/uuhwN19CMt
Lockdown ka main rule is Stay Home, Stay Safe.
So open a Kotak 811 Savings Account from your home with India's first zero-contact video KYC. It's so easy even I can do it. Check it out! @KotakBankLtd#BankFromHome#811VKYCLife
Fierce, yet gentle. Tired, but keeps going. Join us in saluting all the #MomsOnDuty who inspire us with their determination, as they fulfil every responsibility. Happy Mother's Day!
#MothersDay#HappyMothersDay#MothersDay2020
Green Shoots - higher testing is the reason for more positive coronavirus cases in India (700% increase in testing in 1 month) .
Percentage of positives per test has dropped significantly - from 5.8% to 3.4%. For context, this number is 16.5% in America.