Private sector lender Kotak Mahindra Bank has laid ambitious plans of increasing its wealth management business by 25% by the next fiscal, said a top official of the bank.

"We are very bullish on the wealth management business given the macros are clearly in a good shape and we (India) will grow at a 7.5-8 per cent," said C. Jayaram, executive director of Kotak Mahindra Bank.

Jayaram is also the head of wealth management business of the bank.

The wealth management arm of the bank, Kotak Wealth Management offers financial advisory as well as wealth management services to high net worth individuals (HNIs).