A number of senior executives have left India’s biggest bank in the private sector before its MD and CEO Aditya Puri retires in October, after having held the position for nearly 25 years. Questions have been raised about unethical business practices followed by the bank, says Hemindra Hazari, independent analyst and commentator on the country’s banking sector, in an interview with NewsClick.
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If the Bombay High Court favours the RBI in its judgement in this dispute, it would appear that the latter is empowered to invoke Section 46(1) on Uday Kotak, the CEO and Dipak Gupta, the joint managing director of the bank, as it has specifically used the word, “wilful” to describe the bank’s conduct.
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