Kotak Bank backs its own for the top job; RBI call in focus

Uday Kotak’s sudden resignation on Saturday took the investor community by surprise. Kotak Mahindra Bank, with a market cap of `3.51 lakh crore, is currently the fourth-largest lender in the country. In his resignation letter to chairman Prakash Apte, Uday Kotak revealed that he had contemplated this decision and chose to step down four months before his term’s conclusion.