Can Kotak Mahindra Bank rebound under a new non-promoter CEO?
Regulatory rap Half of these five years have been under Vaswani, who was drafted in from outside. Previously, Vaswani had worked at Citigroup and Barclays
Regulatory rap Half of these five years have been under Vaswani, who was drafted in from outside. Previously, Vaswani had worked at Citigroup and Barclays.
He took over on 1 January 2024 on a three-year term. In April 2024, four months into his stint, the RBI banned Kotak Mahindra Bank
from onboarding new customers via online and mobile banking channels, and from issuing new credit cards. It lifted the ban in February 2025, but that
10-month embargo ended up causing both financial and reputational damage.
The BriefWire