Uday's new bank

Entrepreneurial banker, Uday Kotak has broken new ground in India and turned his financial services group into a bank.

Suave, entrepreneurial, and according to his CV a man who also plays sitar, Uday Kotak announced this week that he has converted his financial services empire into a bank. This breaks new ground in India. Built up from a brokerage in the 1980s and partnering with local conglomerate Mahindra Mahindra, the empire has grown rapidly in recent years to encompass investment banking, insurance, mutual funds and auto financing. Now as a bank - named Kotak Mahindra Bank - it looks likely to grow even faster, and will consider acquisitions. Here Uday Kotak explains his strategy

What does your conversion from a financial services company into a bank mean, and why is it...

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