BANKING

Uday Kotak, the founder of Kotak Mahindra Finance and former MD & CEO of Kotak Bank, has explained his decision to step down before the end of his tenure. Kotak stated that he wanted to do what was best for the institution and ensure a smooth transition. He also mentioned personal and family commitments as a reason for his early departure. Kotak assured that the bank has submitted a succession application to the RBI and that he will remain committed to the investors and the markets as a non-executive director and significant shareholder.

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