Uday Kotak Resigns

Kotak Mahindra Bank’s CEO and MD Resigns.  Explore more in this story>>

Uday Kotak's Resignation

Uday Kotak steps down as MD and CEO of Kotak Mahindra Bank from September 1. He will remain a non-executive director.

End of CEO Tenure

Uday Kotak's CEO and MD tenure for Kotak Mahindra Bank was originally scheduled to be concluded on December 31, 2023.

Interim CEO

Dipak Gupta, Joint MD, takes over as interim CEO until December 31, 2023, subject to RBI and bank members' approval.

Founder's Journey

Kotak has been with the bank since its inception as an NBFC in 1985, to a commercial lender in 2003, growing it into a leading financial institution.

Non-Executive Role

Uday Kotak who has amassed a wealth of $13.4 Billion according to Bloomberg, will remain a significant shareholder and continue as a Non-Executive Director.

Legacy and Growth

Kotak in his message said that he started with 3 employees and a 300 sq. ft. office 38 years ago. He has been pivotal in the growth of Kotak Mahindra as a bank.