Jay Kotak, son of Uday Kotak of Kotak Mahindra Bank, and a prominent figure in the finance industry, shares insights into his strategic approach and his decision to return to India. He is the co-head of Kotak811, the digital banking arm of Kotak Mahindra Bank. He also serves as the Senior Vice-President of Conglomerate Relationships at the bank. Kotak reveals the key factors that drive his banking strategy and the vision he envisions for the future. With his vast experience and expertise, he sheds light on the challenges and opportunities that lie ahead in the Indian market.
Why did you go to the US and why did you return to India?
Jay Kotak: When I went to the US, I went with the idea that I am going to learn, to seek exposure, and to come back. That was always the plan. Of course, after going there, making friends, spending time, there was a little sense of, maybe I should spend a little more time here. But substantively, I was clear. I wanted to come back to India and I wanted to be here, be part of the story, be with my family and it was an easy choice at the end.
Easy choice at the end. Not a lot of people would say that, but I take your point there. Coming back to India was an easy choice, but was the career choice as easy? A lot of your peers are entrepreneurs right now. They are doing their own startups, etc. Did you want to dabble there a bit ever or was it clear as well that you want to join the bank?
Jay Kotak: I will answer that in two parts. I was always clear. I like numbers. I like financial services and I gravitated towards that. It helps that that was part of the conversation at home. As far as the entrepreneurial question is concerned, I do have an entrepreneurial bug in me. I do want to start something from small and nurture it into something larger. I am already doing that. In many ways, 811 is a startup. It happens to be inside a larger company, but it is something we have nurtured. And I definitely see it as my baby and I feel like an entrepreneur. And credit to the larger team at Kotak for allowing us to be that way.