In this edition of Moneycontrol Pro Panorama: Dabur records better sales in rural areas, some SFBs can look to a more universal role, inheritance tax is not anti-wealth creation, can high rates provide a nudge to deposit growth, and more
Federal Bank declined to comment on reports of KVS Manian as MD & CEO candidate, emphasizing their search for the best candidate, internal or external. Manian, a former Kotak Mahindra Bank executive, is speculated for the role. Federal Bank reported Q4FY24 earnings, with a net profit of Rs 906 crore
Kotak Mahindra Bank s shares plummeted 4%, hitting a new 52-week low of Rs 1,561 following Joint MD KVS Manian s resignation. Nuvama downgraded the stock from buy to reduce. Earlier, RBI restrictions caused a 10% decline last week.
Manian s departure has left banking industry executives in shock, especially as the newly elevated joint managing director, who once was in consideration for the top job, had been willing to serve a notice period