RBI clears re-appointment of Uday Kotak as MD of KMB for 3 years

Private sector Kotak Mahindra Bank (KMB) on Monday said the RBI has approved the re-appointment of Uday Kotak as managing director of the bank for a further period of three years. The banking sector regulator also approved the appointment of part-time chairman Prakash Apte for three years. It may be noted that the board of the bank and the shareholders had approved these re-appointments, subject to the approval of the RBI.