The fourth-largest private sector bank, Kotak Mahindra, has a new boss. Dipak Gupta has been named the new Managing Director (MD) and Chief Executive Officer (CEO) of the bank by the Reserve Bank (RBI).
Dipak has been appointed only for two months in this interim position. Uday Kotak had left his position at the beginning of the month.
In a regulatory filing on Friday, Kotak Mahindra Bank stated that Dipak Gupta has been nominated by the RBI for a two-month term, commencing as of September 2. On September 1, four months before his term was set to expire, MD-CEO Uday Kotak announced his resignation. The last day of his term was December 31, 2023.