Priyanka Tiwari
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Kotak Mahindra Bank shares surged over 4% to Rs 2,174 on March 24, marking a 41-month high, the highest since October 27, 2021. The sharp rally came on the back of significant leadership changes and renewed investor confidence.
Stock Performance Outpaces Nifty in 2025
The stock has shown strong momentum in 2025, gaining 22% year-to-date, outperforming the Nifty 50, which is down 0.5% during the same period.
Bhavnish Lathia Appointed as CTO
The rally follows the announcement of Bhavnish Lathia as the new Chief Technology Officer (CTO). His appointment comes after a vacancy left by former COO and CTO Milind Nagnur, who resigned on February 15.
Lathia, who joined Kotak Mahindra Bank in August 2022, previously served as Chief of Customer Experience and Head of Technology – Consumer Bank. His promotion aligns with the bank’s digital transformation strategy.
“His leadership will be crucial in ensuring that Kotak remains at the forefront of technological advancements in the banking sector,” said Ashok Vaswani, MD & CEO of Kotak Mahindra Bank.
RBI Lifts IT Curbs, Supporting Stock Momentum
The leadership update follows a significant development last month, when the Reserve Bank of India (RBI) removed IT-related restrictions on the bank. These restrictions had earlier:
- Prevented new credit card issuance
- Halted digital onboarding of customers
These curbs had been in place for 10 months due to concerns over IT infrastructure, and their removal is seen as a positive signal for future growth.
Vyomesh Kapasi Joins as Head of Consumer Bank – Product
In another senior appointment, Vyomesh Kapasi has been named Head of Consumer Bank – Product. He has been involved in the Consumer Banking product strategy since February 2025 and will now join the Group Management Council as part of senior management.
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