RBI re-appoints Uday Kotak to stay at helm of Kotak Mahindra Bank for three more years

The Reserve Bank of India (RBI) has re-appointed Uday Kotak as the managing director of Kotak Mahindra Bank for a further period of three years. The banking sector regulator also approved the appointment of part-time chairman Prakash Apte for another three years.

Vide its letter dated 14th December, RBI has vide its letter dated of the same date granted approval for the re-appointments of Prakash Apte as part-time chairman, Uday Kotak as MD & CEO and Dipak Gupta as Joint MD for a another 3 years with effect from January 1, 2021.

Here it It may be noted that the Board of the bank and the shareholders had approved these re-appointments subject to the approval of the RBI at their respective meetings held on May 13 and August 18 this year.

Kotak is a member of the Government of India's High Level Committee on Financing Infrastructure, the Primary Market Advisory Committee of the Securities & Exchange Board of India, member of the Board of Governors of the National Institute of Securities Markets and ICRIER. He is also Governing member of the Mahindra United World College of India and member of National Council of CII. He is also a member of the strategic board which advises the national law firm Cyril Amarchand Mangaldas