RBI gives Uday Kotak another three years as MD of Kotak Mahindra Bank

The regulator has also cleared re-appointments of Prakash Apte as part-time chairman, and Dipak Gupta as joint managing director

Kotak Mahindra Bank on Monday said the Reserve Bank of India has approved the re-appointment of Uday Kotak as managing director for a further period of three years.

The regulator also approved the appointment of part-time chairman Prakash Apte and Dipak Gupta as Joint MD for a period of three years, with effect from January 1, 2021, the bank said in a regulatory filing.

The board of the bank and the shareholders had approved these re-appointments, subject to the approval of the RBI, at their respective meetings.

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Disclosure: Entities controlled by the Kotak family have a significant