Gupta will hold the position till Kotak Mahindra Bank's new chief Ashok Vaswani takes over officially from January next year, as per RBI's earlier approval.
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 will need to also assure investors and depositors of smooth handling of the bank till the leadership transition is complete.
Loan growth will remain cautious post Marginal Cost of Funds based Lending Rate (MCLR) cuts by many banks, said Dipak Gupta, Jt MD of Kotak Mahindra Bank.
Speaking to CNBC-TV18 Dipak Gupta, Joint MD OF Kotak Mahindra Bank, said that it is early to surmise on the impact of demonetisation. He also stressed that the impact is felt not just on the liability side of the bank‘s balance sheet but some of it in the short-term gets offset by asset-side gains.
Unlike the previous policy statements, yesterday's policy was not only indicative of market but had actions, too, facilitating the signals given by the central bank, says Dipak Gupta, Joint MD, Kotak Mahindra Bank.
HDFC Bank's Sukhthankar says the cyclical factors for creation of non-performing loans may have played out, but some borrower-specific issues still remain. On the entry of small banks and payment banks, Sukhthankar says the market is large enough to accomodate additional players.
An electronics engineer and an alumnus of IIM Ahmedabad, Mr. Gupta has been with the Kotak Group since 1992 and joined the board in October 1999.
He did not have the slightest idea about the leasing and hire purchase business while starting his career over two decades ago at consultancy firm Ferguson. An engineer-turned-management graduate from IIM-Ahmedabad, Dipak Gupta, managing director of Kotak Mahindra Bank, today ranks among the highly rated bankers in the industry.
Private sector lender, Kotak Mahindra Bank appointed C. Jayaram and Dipak Gupta as joint managing directors, according to a press release issue by the lender. They were previously working as executive directors of the bank.