The 57-year-old has been ranked 33rd in this list, called 'Money Masters: The Most Powerful People In The Financial World,' which was topped by Blackstone Group's CEO Stephen Schwarzman, with a net worth of $10.2 billion and oversees assets worth $344 billion.
The 40 financiers on the list dominate the financial world, ranging from banking to buyouts and trading to takeovers.
"The hedge fund managers, private equity moguls and lenders who control the flow of trillions of dollars around the global economy impact just about all of us one way or another," Forbes added.
"His bank is continuing to offer 6 per cent on savings accounts, even as falling rates make it harder to do so. Kotak is gung ho on his native country and believes investing in India is like a Bollywood movie - long, but with a happy ending," it said.
"Even after a run-up in asset prices, the chief of the world's biggest private equity firm is finding ways to put money to work, including recent real estate deals in India, where Blackstone Group now owns 30 million square feet of office space in major cities," Forbes said.
Names in the top ten of the list are: JPMorgan Chase CEO Jamie Dimon (3rd), Berkshire Hathaway head Warren Buffet (4th), Goldman Sachs Chairman Lloyd Blankfein (9th) and Soros Fund Management chief George Soros (10).
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