Kotak Mahindra Bank Approves Shanti Ekambaram As Whole-Time Director

Kotak Mahindra Bank on Wednesday approved the appointment of Shanti Ekambaram as whole-time Director of the Bank, for a period of three years, with effect from November 1, 2022 or from the date of regulatory approvals, whichever is later.

Further, the Bank announced the reappointment of K.V.S. Manian as a whole-time Director for a period of three years. His will hold the position with effect from November 1, 2022 or from the date of regulatory approvals, whichever is later.

The Bank also announced that it has accepted the request of Gaurang Shah, to not continue as a Whole-time Director and Director of the Bank on the expiry of his current term which ends on October 31, 2022 and placed on record its appreciation for the contribution made by Shah during his tenure as a Whole-time Director of the Bank.

However, Shah will continue as Director of Kotak Mahindra Asset Management Company Limited, Kotak Mahindra Life Insurance Company Limited, Kotak Mahindra General Insurance Company Limited, Kotak Investment Advisors Limited, Kotak Mahindra (UK) Limited, Kotak Mahindra Inc. and Kotak Mahindra Asset Management (Singapore) Pte. Limited.

Additionally, the Bank made the following announcements, which are effective immediately:

Dipak Gupta, Joint Managing Director of the Bank, has been appointed as Chairman of Kotak Investment Advisors Limited (“KIAL”)

Gaurang Shah, Whole-time Director of the Bank, has been appointed as Chairman of Kotak General Insurance Company Limited (“KGI”)

D Kannan, Group President- Commercial Banking, has been appointed as Chairman of BSS Microfinance Limited (“BSS”).

It may be noted that Gupta, Shah and Kannan are currently directors of KIAL, KGI and BSS, respectively.