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RBI grants extension to Dipak Gupta as MD & CEO of Kotak Mahindra Bank

RBI grants extension to Dipak Gupta as MD & CEO of Kotak Mahindra Bank

| @indiablooms | 27 Oct 2023, 10:04 pm

Mumbai: The Reserve Bank of India (RBI) has granted an extension to Dipak Gupta as the interim Managing Director and Chief Executive Officer (MD and CEO) of Kotak Mahindra Bank until December 31, 2023.

This extension will last until the new MD and CEO, Ashok Vaswani, officially assumes office in January next year.

Gupta has been overseeing the bank's operations and holding various key roles, including those related to IT, cyber security, customer experience, and business intelligence.

Prior to this interim role, Gupta served as the joint managing director of the bank.

The RBI had initially appointed Gupta as the interim MD and CEO for a two-month term in September.

In a separate announcement, Kotak Mahindra Bank confirmed that the RBI has approved the appointment of Ashok Vaswani as the MD and CEO, and he is expected to assume office no later than January 1, 2024.

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