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Ashok Vaswani named Managing Director and CEO of Kotak Mahindra Bank, receives approval from RBI
October 23, 2023
In a significant move, the Reserve Bank of India (RBI) has given its nod to the appointment of Ashok Vaswani as the Managing Director & CEO of Kotak Mahindra Bank. The approval, based on the bank’s application submitted on July 19, 2023, grants Vaswani a three-year tenure starting from the date he assumes office, anticipated no later than January 1, 2024.
Kotak Mahindra Bank, in a regulatory filing, expressed their enthusiasm about Vaswani’s appointment, citing his extensive experience of over 35 years at Citigroup and Barclays. The bank praised his ability to develop global businesses, foster winning teams, establish transformative partnerships, and employ cutting-edge technology to achieve substantial bottom-line growth.
Uday Kotak, the Founder and Director of Kotak Mahindra Bank, lauded the RBI’s approval, emphasizing Vaswani’s digital acumen and customer-centric approach. Vaswani, a highly qualified professional with degrees in Commerce, Economics, Accountancy, and additional certifications from prestigious institutions, expressed his delight at the prospect of contributing to India’s growth and Kotak Mahindra Bank’s success. His return to India, he stated, was a personal joy, and he looks forward to making a significant impact on the nation’s journey toward becoming one of the world’s top three economies in the next five years.
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