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RBI allows Kotak to lead bank for three more years
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This story is from December 15, 2020
RBI allows Kotak to lead bank for three more years
TNN / Updated: Dec 15, 2020, 14:05 IST
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Uday Kotak (File photo)
MUMBAI: Kotak Mahindra Bank’s promoter and CEO Uday Kotak has been cleared for reappointment by the RBI along with his deputy MD and chairman for three years. The second-most valuable private bank informed the stock exchanges that the regulator had on Monday approved the re-appointment of Kotak as MD & CEO, Prakash Apte as part-time chairman, and Dipak Gupta as joint MD for three years effective January 1, 2021.
RBI approves re-appointment of Uday Kotak as chief of Kotak Mahindra Bank
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Kotak has already served as the head of Kotak Mahindra Bank for the past 17 years
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Mumbai: The Reserve Bank of India has approved the appointment of Uday Kotak as the managing director and chief executive officer of Kotak Mahindra Bank for a period of three years with effect from 1st January 2021, according to a stock exchange release.
Kotak s re-appointment had come under question after RBI released a discussion paper in June this year on governance at commercial banks. The paper had proposed capping the tenure of bank CEOs who are promoters or large shareholders at 10 years.
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Updated Dec 15, 2020 | 08:45 IST
RBI granted approval for the re-appointments of Uday Kotak as MD & CEO of Kotak Mahindra Bank from Jan 1, 2021. Stocks to track in trade for December 15, 2020: TCS, Tata Steel, PNB, Ashok Leyland BPCL 
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Kotak Mahindra Bank
RBI has granted approval for the re-appointments of Uday Kotak as MD & CEO, Dipak Gupta as Joint MD and Prakash Apte as Part-time Chairman for a period of 3 years, with effect from January 1, 2021.
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