Banking News

Kotak Mahindra Bank refutes media reports, says no communication yet from RBI on CEO succession – The Economic Times Video


Private sector lender Kotak Mahindra Bank on Monday said it has not received any communication from the Reserve Bank on the succession of its executive officer (CEO). Its current CEO Uday Kotak’s term ends in December this year, and as per RBI’s new rules on limiting the tenures of CEOs, he cannot continue in the office. Kotak has announced that he will continue as a non-executive board member in the lender, in which his holding stands at 26 per cent, making it one of the few large private sector banks to have prominent promoter shareholders.


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