Kotak Mahindra Bank has secured approval from the Reserve Bank of India (RBI) for the appointment of Ashok Vaswani as the bank’s Managing Director and Chief Executive Officer (MD & CEO). Vaswani, a seasoned banker, will serve for a three-year term, effective no later than January 1, 2024. This announcement follows a series of leadership changes at Kotak Mahindra Bank, triggered by the early exit of founder Uday Kotak due to RBI’s tenure cap. Vaswani, with a background in top roles at Barclays and Citigroup, expressed excitement about leading the bank and contributing to India’s economic growth.