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Market Chatter: Kotak Bank Begins CEO Succession Process With Two Internal Candidates

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Kotak Mahindra Bank (NSE:KOTAKBANK, BOM:500247) has put forward executive directors Anup Saha and Paritosh Kashyap as potential successors to CEO Ashok Vaswani, whose term expires at the end of this year, Reuters reported, citing two people familiar with the matter.

The lender has submitted the two internal candidates to the Reserve Bank of India for approval, according to the report.

The move begins the succession process for Vaswani, who has said he will step down on Dec. 31 and not seek another term, citing personal reasons.

Kotak Mahindra Bank did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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