Uday Kotak Says He Is Not on LinkedIn, Account Promoting Bitcoin in His Name Is Fake
Moneylife Digital Team 09 October 2023
Uday Kotak, founder and director of Kotak Mahindra Bank, has clarified that he does not have an account on LinkedIn, and the account on that social media site, which uses his name, is fake.
Responding to a tweet by one Rajath Kumar (@Xrajath) on X (erstwhile Twitter), Mr Kotak (@udaykotak) says, "This is fake. I am not on LinkedIn."
The account in the name of Mr Kotak has since been removed from LinkedIn. The fake account was found spreading and recommending cryptocurrencies. One such post on the fake account says, "...its prudent for investors to have 2% to 3% of their personal wealth in cryptocurrencies, 'just in case of fiat currency'. There is a possibility crypto would become a globally dominant currency, holding some BTC (Bitcoin) and plans to buy more with the price of the market value, 'invest now in bitcoin and embrace the future of finance'."
The founder of Kotak Mahindra Bank has nearly 1.1mn (million) followers on X and regularly posts his comments on the economy, banking, companies and sectors on that platform.  
Last month, Mr Kotak resigned as managing director and chief executive officer (MD&CEO) of Kotak Mahindra Bank. He, however, would continue as a non-executive director of the Bank. As an interim arrangement, Dipak Gupta, joint managing director (MD), will carry out the duties of the MD&CEO till 31 December 2023, Mr Kotak said in his resignation letter. (Read: Uday Kotak Resigns as MD&CEO of Kotak Mahindra Bank
Mr Kotak is the founder and promoter of the Bank and has been the managing MD&CEO of Kotak Mahindra Bank, earlier known as Kotak Mahindra Finance Ltd, since 1 August 2002.
He has played an important role in the institution's growth over the past 38 years. Under Mr Kotak's leadership, Kotak Mahindra group established a prominent presence in every area of financial services, from stock broking, investment banking and car finance, to life insurance and mutual funds.
You may want to read Mr Kotak's interview with Sucheta Dalal and Debashis Basu. Here is the link: "I constantly ask myself what is the baggage of history and what are the lessons of history" - Uday Kotak
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