Uday Kotak honored with Padma Bhushan Award: President Draupadi Murmu presented the first Padma Awards for 2026 at the Republic Pavilion of Rashtrapati Bhavan on Monday. During this, he honored Uday Kotak, founder and director of Kotak Mahindra Bank, who has taken the country’s banking sector forward, with the Padma Bhushan Award. Uday Kotak’s journey is considered one of the most inspiring stories of India’s financial sector.
When Uday Kotak started his work, he did not belong to any big business family nor did he have the support of big investors. Uday Kotak, through Kotak Finance, expanded its operations in areas like auto loans, investment banking and share broking in the early 1990s, when India’s economy was opening up and getting loans was quite difficult.
The journey started with a loan of Rs 30 lakh
At the same time, the economic liberalization of 1991 created new opportunities for private financial institutions. In the beginning many people were hesitant in giving money to the new company. Despite these challenges, Uday Kotak built his business on the principles of honesty, transparency and low-risk lending. His decisions were not taken hastily but after careful consideration. The company’s initial growth was fueled by a loan of Rs 30 lakh taken from family and friends to start a bill discounting business.
The story of becoming a big bank from small beginnings
Over time, this small beginning became the strong foundation of one of India’s largest private banking groups. It is noteworthy that on the eve of Republic Day Home Ministry Padma Awards, one of the country’s biggest civilian honors, was announced by the Government of India. Apart from Uday Kotak, this time four businessmen were honored in the Trade and Industry category. Padma Awards is awarded. In this, Ashok Khade, founder and MD of Maharashtra’s shipping company Das Offshore Engineering Private Limited and Satyanarayan Nuwal, founder of private defense company Solar Industries, have been honored with Padma Shri.
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TT Jagannathan of Prestige also honored
At the same time, TT Jagannathan of Prestige, a kitchen equipment manufacturing company, has been awarded Padmashree posthumously. A total of 131 people have been given Padma Awards by the government, out of which five have been given Padma Vibhushan, 13 have been given Padma Bhushan and 113 have been given Padma Shri.
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