Kotak Mahindra Bank Limited gets RBI approval for reappointment of Uday Kotak, Prakash Apte and Dipak Gupta

Reserve Bank of India (RBI) has vide its letter dated 14th December 2020, granted approval for the re-appointments of:

- Mr. Prakash Apte as Part–time Chairman;
- Mr. Uday Kotak as MD & CEO; and
- Mr. Dipak Gupta as Joint MD

for a period of 3 years, with effect from 1st January 2021.

The Board of Directors of the Bank and the Shareholders had approved the aforesaid re-appointments, subject to the approval of the RBI, at their respective meetings held on 13th May 2020 and 18th August 2020.

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1940.15 as compared to the previous close of Rs. 1920.65. The total number of shares traded during the day was 118625 in over 7162 trades.

The stock hit an intraday high of Rs. 1947.8 and intraday low of 1898.4. The net turnover during the day was Rs. 228293522.

Source : Equity Bulls

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