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The recent elevation of Uday Kotak’s long-time associate, K.V.S. Manian, as joint MD may have been an important business decision. But it leaves the country's fourth largest private bank with three heavyweights at the top. Will they pull in the same direction?

Divergent narratives from the Haryana government and the lender raise deeper questions on oversight, authorizations and systemic lapses—answers that may emerge only after a forensic audit.
The Bengaluru-based lender is once again gearing up to seek the RBI’s nod after the central bank returned its application last year.
The Kerala-based bank has been chasing costly and risky bulk term deposits amid tanking profitability.