Uday Kotak started Kotak Financial services in 1985 as a bill discounting platform. He later formed a partnership with Anand Mahindra and started commercial banking in 2003 under the name of Kotak Mahindra Bank. Today, Kotak Mahindra Bank has 1,780 branches, 2,963 ATMs and deposits worth ₹4,45,268 crore.