CURRENT AFFAIRS

Detailed explanation-1: -Mr. Uday Kotak, aged 62 years, holds a Bachelor’s degree in Commerce and a MMS degree from Jamnalal Bajaj Institute of Management Studies, Mumbai and was appointed as a Director on 21st November, 1985.

Detailed explanation-2: -Kotak Mahindra Bank appoints C S Rajan as additional and independent director on its board.

Detailed explanation-3: -RBI Approves Re-Appointment Of Uday Kotak As MD & CEO Of Kotak Mahindra Bank.

Detailed explanation-4: -History. In 1985, Uday Kotak founded Kotak Capital Management Finance as an investment and financial services company, with a loan of ₹30 lakh from family and friends. In 1986, Anand Mahindra and his father Harish Mahindra invested ₹1 lakh in the company and it was subsequently renamed as Kotak Mahindra Finance.

Detailed explanation-5: -Shares of Federal Bank Ltd were in focus on Monday following reports of its merger with Kotak Mahindra Bank Ltd. The Federal Bank stock hit a new 52-week high of ₹129.75 apiece on the National Stock Exchange on Monday.