Uday Kotak's family office to not invest in cryptocurrencies

India's richest banker Uday Kotak has planned to set up a family office but decided not to invest in debt and cryptocurrencies. "Purchases of Bitcoin may prove to be risky," Venkat Subramanian, who will manage the family office, has said. While a figure wasn't disclosed, Kotak has about $1.2 billion in cash and investable assets, according to Bloomberg.