Photo for representational purpose only. - File photo
Mumbai, April 30
Kotak Mahindra Bank on Tuesday announced that its joint managing director KVS Manian, a veteran at the private sector lender, has stepped down with immediate effect.
Manian, who had been with the lender for nearly three decades, was elevated in a management rejig in January.
The surprising news of the departure comes days after the RBI put severe business restrictions on the lender, including stopping it from selling new credit cards for shortcomings in its tech architecture.
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