Kotak Mahindra Bank's board approves appointment of additional director

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Updated: 27/10/2009 | 12:00 AM IST

Banking

Capital Market

Tuesday, October 27, 2009 (New Delhi)

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On 27 October 2009

The board of Kotak Mahindra Bank has approved the appointment of Sudipto Mundle as additional director on the board of directors of the bank.

The board also took note of the resignation of Shishir Bajaj as a director of the bank. He is resigning from the board in view of the fact that the Bajaj group is in the process of registering one of its companies, in which Bajaj is a substantial shareholder and director, as a non banking financial company with the Reserve Bank of India.

This was decided at the board meeting held on 27 October 2009.