/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
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?
Last week, the Reserve Bank of India (RBI) cleared the redesignation of K.V.S. Manian and Shanti Ekambaram as joint managing director and deputy managing director of Kotak Mahindra Bank, respectively. The move came across as a promotion for both the senior bankers.
Except that there is more to these promotions.
For years, Manian and Ekambaram were perceived to have near equal standing in India’s fourth largest private bank. Both were whole-time directors and took turns heading the consumer banking and corporate banking verticals. Again, although there was no official proclamation, under Uday Kotak, they were regarded as a joint number …
The retired banker wants India’s top companies to invest in AI. But the capital, ambition, and urgency simply aren’t there.
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.
