Kotak Mahindra Bank announces the appointment of Prakash Apte as a part-time chairman of the bank, for a period up to December 31,2020 subject to regulatory approvals.

This appointment comes in as the incumbent part-time chairman, Dr. Shankar Acharya will retire and step-down from his role on July 19. He has worked as the director of the bank since May,2003, and as part-time chairman since July 2006.

Further, Prakash Apte is a non-executive Independent Director of the bank since March 2011 and also an Independent Director on the board of Kotak Mahindra Life Insurance Company Limited.

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