Kotak Bank senior official Ambuj Chandna resigns
Kotak Mahindra Bank’s head of consumer products, Ambuj Chandna, has resigned from his position to pursue opportunities outside the bank, the lender said in a statement.
Chandna had worked with Kotak Bank for nearly nine years, serving as the president and head of consumer bank products in his latest role. He was earlier associated with ING Vysya Bank, which was later acquired by Kotak Bank. He has also served Citibank India, Fullerton Financial Holdings and General Electric.
Kotak Bank has seen multiple senior executives stepping down in the recent past. First, the bank’s former joint MD KVS Manian resigned in April last year, and became the chief of Federal Bank. Manian was appointed as Kotak Bank joint MD just months before his resignation.
In July 2024, another senior executive Virat Diwanji retired from the bank. Earlier this month, the bank’s CTO and COO Milind Nagnur quit the bank citing personal reasons.
“Leadership changes are a natural part of our organisation’s evolution, reflecting the dynamic nature of career growth & progression and the deep bench strength at Kotak. We will announce a new leader for this role in short order. We remain committed to maintaining strong leadership and continuing our growth trajectory,” said a Kotak Bank spokesperson.
The spate of resignations come amid the Reserve Bank of India’s (RBI) ongoing ban on Kotak Bank. Due to severe regulatory violations, RBI directed Kotak Bank to stop opening new accounts and issuing new credit cards through online and through mobile banking channels.
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