New Delhi: The Reserve Bank of India has approved the re-appointment of Uday Kotak as the managing director and chief executive officer of Kotak Mahindra Bank for a period of three years with effect from 1 January 2021, according to a filing.

Kotak is the founder managing director and promoter of the bank and has already served as the head of Kotak Mahindra Bank for the past 17 years.

RBI also granted approval for reappointing Prakash Apte as part –time chairman and Dipak Gupta as joint managing director for a period of three years with effect from January 2021.