Uday Kotak resigns as CEO of Kotak Mahindra Bank

Uday Kotak resigns as CEO of Kotak Mahindra Bank

Daily Current Affairs   /   Uday Kotak resigns as CEO of Kotak Mahindra Bank

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Category : Appointment/Resignation Published on: September 05 2023

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  • Uday Kotak resigned as Managing Director and CEO of Kotak Mahindra Bank with effect from September 1, 2023.
  • Deepak Gupta, Joint Managing Director of the bank, will temporarily assume the role of Managing Director and CEO.
  • The change is subject to approval from the Reserve Bank of India (RBI) and the bank's members.
  • Uday Kotak has been leading Kotak Mahindra Bank since its inception in 1985 and guiding it to become a leading commercial lender.
  • His departure marks the end of an era in Indian banking, and he will remain as non-executive director till December 31, 2023.
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