India's Richest Banker Resigns as Kotak Mahindra CEO Sooner Than Planned - Bloomberg
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Billionaire Uday Kotak Resigns as Bank CEO Earlier than Expected

  • Dipak Gupta to take over as interim CEO till Dec. 31
  • Kotak says personal reasons for resigning before the term

Uday Kotak

Photographer: Prakash Singh/Bloomberg
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Uday Kotak, India’s richest banker, resigned Saturday as managing director and chief executive officer of Kotak Mahindra Bank Ltd., giving up the reins earlier than expected to take on the role of a non-executive director.

Dipak Gupta, the joint managing director, will take charge as interim MD and CEO until Dec. 31, subject to the approval of the Reserve Bank of India and members of Kotak Mahindra Bank, according to an exchange filingBloomberg Terminal. The lender has already submitted an application to the central bank for approval of the new MD and CEO with effect from Jan. 1, 2024.

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