Uday Kotak

No drastic job cuts post KMB-ING Vysya merger: Uday Kotak

Mumbai - Kotak Mahindra Bank chief Uday Kotak has assured that there will not be "any dramatic" reduction immediately in the number of employees following the merger of ING Vysya Bank.

While ING has around 10,000 employees, Kotak Bank has around 29,000.

"We believe total number of employees will grow over time, but we don't see any dramatic reduction in the net number of people in a hurry," the Executive Vice-Chairman and Managing Director of Kotak Bank Uday Kotak told PTI after he announced the merger deal last evening.

Jan Dhan Yojana "great opportunity" for "stressed" banking sector: Uday Kotak

Uday KotakNew Delhi, Sept 16 : Hailing Prime Minister Narendra Modi 's visionary 'Jan Dhan Yojana', Uday Kotak, Executive Vice-Chairman and Managing Director of Kotak Mahindra Bank Limited, said today that the financial inclusion scheme offered great opportunity for a "stressed" Indian banking sector.

RBI asks Kotak Mahindra promoters to cut stake

RBI asks Kotak Mahindra promoters to cut stakeIndia central bank, the Reserve Bank of India (RBI) has asked the promoters of Kotak Mahindra Bank, Uday Kotak to reduce their stake in the bank to 20 percent by March, 2018 from the present 45.21 percent.

“The RBI has advised the bank that the promoters’ shareholding, now at 45.21 percent, be brought down to 20 percent by March 31, 2018,” Kotak Mahindra Bank said in a press statement. The bank also said that it might be directed to reduce the promoter’s stake to 10 per cent in the bank.

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