Kotak Mahindra Bank

Kotak Mahindra Bank shares drop 10% after RBI bans it from taking new customers via digital channels

by

[ Bengaluru: India’s benchmark indexes fell on Thursday as financials weighed, dragged down by Kotak Mahindra Bank, while consumer stocks fell after an earnings miss from sector giant Hindustan Unilever. The NSE Nifty 50 was down 0.11% at 22,376.10 as of 9:58 a.m. IST, while the S&P BSE Sensex dropped 0.10% to 73,780.80. High-weightage financial … Read more

Kotak Mahindra Bank shares plunge 10% after RBI bars onboarding customers digitally

by

[ Kotak Mahindra Bank share price today: The Reserve Bank of India‘s (RBI) decision to temporarily halt Kotak Mahindra Bank’s onboarding of new customers through online and mobile banking channels, as well as the issuance of new credit cards, has led to a significant drop in the bank’s share price. The stock fell by up … Read more

RBI bars Kotak Mahindra Bank from onboarding fresh customers via online, mobile banking; asks it to stop issuing fresh credit cards

by

[ The Reserve Bank of India (RBI) has instructed Kotak Mahindra Bank to immediately stop onboarding new customers through its online and mobile banking channels and cease issuing new credit cards. This regulatory action was taken due to concerns about the bank’s compliance and risk management practices.However, RBI has directed Kotak Mahindra Bank to continue … Read more

Regulators need not be too conservative, should respond fast to ‘accidents’ in financial sector: Uday Kotak | India Business News

by

[ NEW DELHI: Veteran banker Uday Kotak on Wednesday said regulators should not be too conservative and cautious but should respond fast to “accidents” in the financial sector.“Zero accident policy is also dangerous. If you are wanting to grow fast, there will be need for good regulations. We may have some accidents but it is … Read more

Kotak Bank rejigs senior management roles

by

[ MUMBAI: Ashok Vaswani, MD & CEO of private sector lender Kotak Mahindra Bank who took over on Jan 1 this year, on Monday announced top-level changes in the bank’s top management.KVS Manian, a veteran with the bank and whole-time director now, has been designated as the joint MD, the bank said in a statement … Read more

Veteran banker Ashok Vaswani assumes charge as Kotak Mahindra Bank’s MD, CEO

by

[ NEW DELHI: Kotak Mahindra Bank on Monday said veteran banker Ashok Vaswani has assumed charge as the managing director (MD) and CEO of the bank. He replaced Dipak Gupta, who was the interim MD and CEO, following founder director Uday Kotak stepping down as the head of the bank, effective September 1, 2023. “Ashok … Read more

CS Rajan appointed chairman of Kotak Bank

by

[ MUMBAI: Kotak Mahindra Bank announced today that the Reserve Bank of India (RBI) has approved the appointment of C S Rajan, Independent Director of the Bank, as the Part-time Chairman. The approval is effective from 1st January 2024, marking a two-year tenure.The decision to appoint Rajan as the next Part-time Chairman follows the retirement … Read more

Small banks struggle to find CEOs

by

[ MUMBAI: Small banks are finding it tough to appoint new CEOs. They need an executive who can lead a digital transformation but paying such candidates top-tier salaries is a challenge for some small lenders. Even if they have the financial muscle, they still have to adhere to salary and banking experience constraints set by … Read more

Green shoots visible on corporate lending side: Kotak Mahindra Bank director Shanti Ekambaram

by

[ NEW DELHI: Green shoots are beginning to become visible as far as investment cycle is concerned led by government spending in the infrastructure sector, Kotak Mahindra Bank whole-time director Shanti Ekambaram said. “I think the last 18 months have been very good on the consumer credit side but you are beginning to see green … Read more