Uday Kotak and the bank together have already donated ₹60 crore towards the coronavirus relief efforts by the Centre and the Maharashtra government, where the bank is headquartered.
Uday Kotak has contributed ₹25 crore personally to the PM-CARES Fund while Kotak Mahindra Bank has contributed ₹25 crore to the PM-CARES Fund and ₹10 crore to the Covid-19 relief efforts in Maharashtra.
Uday Kotak had reportedly earned a basic salary of ₹27 lakh in FY19, PTI reported.
"We are in the midst of a battle to protect both lives and livelihoods. The revival of the economy will depend on a healthy and robust financial sector. The bank is committed to work alongside the government, private enterprise, civil society and individuals in the tough times that lie ahead," the bank statement said on Thursday.