Category: Kotak Mahindra Bank Ltd.

Uday Kotak, the founder of Kotak Mahindra Bank Ltd., has faced a significant challenge as India’s regulator imposed a surprise ban on the bank. This resulted in a sharp decline in the bank’s shares and a substantial decrease in Uday Kotak’s wealth, amounting to $1.3 billion. The ban prohibits the…

Kotak Mahindra Bank Ltd.’s Chief, Ashok Vaswani, reassured existing customers about uninterrupted operations and access to all banking services. He posted a letter on social media announcing this after the Reserve Bank of India imposed curbs, causing a drop in the bank’s stock and a reduction in target price by…