Kotak Mahindra Bank says Uday Kotak's appointment as non-exec director in accordance with law

Since the announcement of Uday Kotak as a non-executive director on the board, some concerns were raised about whether this will get the regulatory nod because, in its April 2021 circular, the RBI also makes it clear that there should be a three-year cool-off period before an MD and CEO is reappointed.

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