Uday Kotak ReAppointed as MD of Kotak Bank for next 3 years

UDAY KOTAK

RBI Clears the Reappointment of Uday Kotak As the Managing Director of Kotak Mahindra Bank for Next Three Years . His Appointment will be effective from 1st January 2021 . It will be for 3 years . Reserve Bank of India also approved the appointment of Prakash Apte as the Part Time Chairman of Kotak Mahindra Bank for next 3 years .

According to Kotak Bank ” Central Bank today i.e 14th December 2020 has approved the appointment of Prakash Apte as Part-time Chairman , Uday Kotak as MD & CEO , Dipak Gupta as Joint MD for 3 Years . All these Appointments will be effective from 1st January 2021 .

Board of Kotak Bank says that shareholders already approved these reappointments  in the shareholders meet which was held on 13th May 2020 and 18th August 2020 . Only RBI Approval is pending . RBI approval was received on 14th December 2020 .

Uday Kotak is currently MD of Kotak Bank . He is the Second Highest serving MD in Private Bank’s After Deepak Parekh who serve as a CEO of HDFC Bank for 27 years . Uday Kotak is the head of Kotak Bank Since it’s Existence from 2003 . In 2003 KMFL go the license of Bank from RBI .

On Monday Share Price of Kotak Mahindra Bank was trading at All time high of Rs 1943.35 . Share of Kotak Mahindra Bank proved itself as a MultiBagger Share

 

 

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