In a regulatory filing, Kotak Mahindra Bank stated that the RBI has approved the re-appointment of Uday Kotak as Managing Director (MD) of the bank for a period of three years. RBI also approved the appointment of part-time chairman Prakash Apte for three years.
The bank said, "The Reserve Bank of India (RBI) has vide its letter dated 14th December 2020, 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 period of 3 years, with effect from January 1, 2021."
Uday Kotak is the founder, MD & CEO of the Bank and its promoter since more than three decades. Apte was appointed as the Part-time Chairman of the Bank at the Annual General Meeting held on 19th July 2018 for a period from 20th July 2018 till 31st December 2020.
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