Mahindra Group Chairman Anand Mahindra on Monday praised Uday Kotak for his contributions to Indian banking and entrepreneurship after the veteran banker was conferred the Padma Bhushan award on the occasion of Republic Day. In a post on X, Mahindra said he “couldn't be happier” to see Kotak's impact on the Indian banking industry recognised with the Padma Bhushan honour.
Uday Kotak was one of 13 prominent personalities awarded the Padma Bhushan for 2026. The government announced the 131 Padma Awards on the eve of Republic Day.
“I couldn't be happier to see Uday's contributions to the Indian banking industry recognised. Beyond banking, Uday was truly a pioneer of the Indian startup ecosystem. He showed that moving away from the status quo to embrace risk can result in enormous rewards,” Mahindra posted on X.
I couldn't be happier to see Uday's contributions to the Indian banking industry recognized.
— anand mahindra (@anandmahindra) January 26, 2026
Beyond banking, Uday was truly a pioneer of the Indian startup ecosystem.
He showed that moving away from the status quo to embrace risk can result in enormous rewards.
Having been… pic.twitter.com/NrWEw3DIMw
He added that, as an early promoter of Kotak Mahindra Bank, he had personally witnessed the scale of its success and the professional and financial value Kotak created.
“He remains an inspiration to us all,” Mahindra praised Kotak's efforts in shaping modern Indian banking.
After being named among the Padma Bhushan recipients, Kotak expressed his confidence that "people will make India even greater" in a post on X on Monday.
“I am humbled and honoured to be conferred the Padma Bhushan. The India of today is unrecognisable from the one I was born in. The journey has been exhilarating. On this Republic Day, we stand at the fork of many roads. I choose the path of karma with a sense of paranoia, with aspiration but conscious of ground realities. I have deep conviction that we, the people will make India even greater. We have miles to go before we sleep…,” Kotak said.
I am humbled and honoured to be conferred the Padma Bhushan. The India of today is unrecognisable from the one I was born in. The journey has been exhilarating. On this Republic Day, we stand at the fork of many roads. I choose the path of karma with a sense of paranoia, with…
— Uday Kotak (@udaykotak) January 26, 2026
About Uday Kotak
Uday S Kotak is the founder of Kotak Mahindra Bank. In 2023, he stepped down as managing director and chief executive of the bank and currently serves as a non-executive director.
Kotak was granted a banking licence in 2003, making Kotak Mahindra Bank one of India's early private sector entrants. The bank built a strong reputation for risk management while withstanding the severe bad loan crisis that hit many Indian lenders in 2013. Beyond traditional banking, Kotak has grown a multi-billion-dollar business in alternative assets and established a successful asset management company.
In 2017, the 66-year-old billionaire was tasked by SEBI to chair a panel on corporate governance. His panel recommended major reforms to make companies more transparent and accountable. In 2018, he was appointed non-executive chairman of IL&FS to help the company out of crisis. He is also on Singapore's Monetary Authority advisory panel. He was President of the Confederation of Indian Industry (CII) from June 2020 until May 2021.
Apart from the Padma Bhushan, he has also won several honours, including Ernst & Young World Entrepreneur of the Year (2014), Economic Times Business Leader of the Year (2015) and USIBC Global Leadership Award (2018), among others. He holds a B. Com and MMS degree from Jamnalal Bajaj Institute of Management Studies.
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