Kotak Bank appoints woman director on board

Kotak Mahindra Bank has appointed Farida Khambata as additional director on its board with immediate effect. The decision was taken at a board meeting on Sunday, September 7, Kotak Bank said in an exchange filing.

Currently, Khambata is global strategist at Cartica Management LLC and a member of its investment committee.

At present, the Kotak Bank board comprises Shankar Acharya, Uday Kotak, C Jayaram, Dipak Gupta, Asim Ghosh, Prakash Apte, Amit Desai, Narendra P Sarda and Mahendra Dev.

Starting October 1, 2014, SEBI has mandated that "The board of directors of the company shall have an optimum combination of executive and non-executive directors with at least one woman director and not less than fifty per cent of the board of directors comprising non-executive directors."


Source : The Hindu