RBI approves Dipak Gupta's appointment as interim chief of Kotak Mahindra Bank

Till a new CEO comes on board, Dipak Gupta will carry out the duties of the chief executive officer

The Reserve Bank of India has approved the appointment of Dipak Gupta as the interim managing director and chief executive officer of Kotak Mahindra Bank for two months. Gupta, who wears a lot of hats at the bank as head of IT, cyber security, customer experience and business intelligence, served as the joint managing director earlier.

Gupta’s association with Kotak dates back to 1999 when he joined as an executive director of Kotak Mahindra Finance Ltd (KMFL) and has played a key role in building the retail business of the bank even before Kotak got the banking licence in 2003.

Also Read Kotak Bank minus Uday Kotak: Can the bank continue its winning streak?

Gupta completed engineering in electronics from Banaras Hindu University in 1983 and went on to pursue a post-graduate diploma in management from IIM Ahmedabad in 1985.

Also Read The Uday Kotak Playbook: A peek into the veteran banker's management style

Kotak Mahindra Bank had informed the stock exchanges on September 2 that Uday Kotak, the managing director and CEO, has resigned from the role ahead of his term coming to an end by the end of 2023.