Uday Kotak has stepped down as the CEO and Managing Director of Kotak Mahindra Bank.

Dipak Gupta, the Joint Managing Director, will assume the role of CEO until December 31.

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Uday Kotak announced his resignation on X, formerly known as Twitter.

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In his statement, Uday Kotak mentioned, "I intend to ensure a smooth transition."

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Uday Kotak shared his resignation letter with the bank's Chairman and board of directors.

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Uday Kotak expressed his gratitude, saying, "I cherish being a part of this journey."

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He will continue to serve as a Non-Executive Director and a significant shareholder.

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The bank has identified a successor, pending approval from the RBI.

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Uday Kotak decided to step down, taking into account upcoming family commitments.

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Reflecting on the 38-year journey, Uday Kotak emphasized the institution's values of purpose, trust, and integrity.

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