Statements in the story: \u201cIndia\u2019s banking regulator is nudging Kotak Mahindra Bank Ltd to select someone outside the lender\u2019s ranks\u2026to succeed Uday Kotak as the next Chief Executive Officer\u2026The Reserve Bank of India has conveyed its view to board members of Kotak Mahindra Bank\u2026The regulator is also reviewing whether stakes the banking group holds in two wholly-owned insurance units pose any risks to the firm\u2019s stability, the people said\u201d, are completely incorrect and baseless.<\/p>\n
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We would like to state that there is no communication, formal or informal, from RBI to Kotak Mahindra Bank or its Board members on CEO succession.<\/p>\n
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Further, the Bank holds all regulatory approvals including from RBI for its stake in its insurance subsidiaries and has not received any formal or informal communication to the contrary.<\/p>\n
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Statements in the story: \u201cIndia\u2019s banking regulator is nudging Kotak Mahindra Bank Ltd to select […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-4317","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n