MUMBAI: The RBI has approved the appointment of Dipak Gupta as interim MD & CEO of Kotak Mahindra Bank for two months, effective September 2. The central bank has ratified the decision taken by the private bank’s board on Saturday following Uday Kotak’s resignation three months ahead of tenure.
The approval was communicated to the bank by RBI through its letter dated September 7. Analysts see the short-term appointment as an indication that the central bank is close to a decision on a successor for Uday Kotak.
Earlier, Kotak had told that the bank had recommended the names of two candidates to the central bank before the deadline for submitting candidates’ names closed. Two prominent internal candidates for the position of CEO at Kotak Mahindra Bank are Shanti Ekambaram – who currently heads the bank’s consumer banking division – and KVS Manian, who has been with the bank since 1994 and holds responsibility for corporate, institutional, and investment banking.
