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Kotak Mahindra Bank Appoints Ms. Ketaki Bha

Mumbai, 18 May 2024: Kotak Mahindra Bank Limited (“Bank”) today announced the appointment of
Ms. Ketaki Bhagwati as an Independent Director on the Bank’s Board for a period of four years,
effective May 18, 2024, subject to the approval of the members of the Bank.
Announcing the appointment, Mr. C S Rajan, Independent Director and Part-time Chairman, Kotak
Mahindra Bank, commented, “We are elated to welcome Ms. Ketaki Bhagwati to the Bank’s Board of
Directors. Her extensive experience of over three decades in the banking and financial services
industry will help the Bank achieve its growth objectives in the coming months and years. The Board
looks forward to working together with Ms. Bhagwati and benefiting from her guidance in key business
Ms. Bhagwati currently serves as an Independent Director and Senior Advisor, providing leadership in
strategy, business development, operations, governance, financial, credit, and risk management. She
is an Independent Director on the Board of Bayer CropScience (India) Ltd and has previously served on
the Boards of Axis Bank Limited, Omniactive Health Technologies Pvt. Ltd, and as a Nominee Director
of IFC on the Board of Tikona Infinet Pvt. Ltd.
Before her board roles, Ms. Bhagwati was the Chief Investment Officer in the Financial Institutions
Group at the International Finance Corporation (IFC), where she worked for nearly twenty-five years,
specialising in private equity, mergers & acquisitions, debt & structured finance, and distressed asset
workouts across Asia, the Middle East, and Africa. She began her career at Credit Rating Information
Services of India (CRISIL) in Mumbai.
Ms. Bhagwati is a member of the Investment Committee at Encourage Capital, a US-based impact fund
focused on investments in India. She is also a Senior Advisor to the South Asia Center at the Atlantic
Council (USA), focusing on major economic policy issues in India, and supports women leaders in
business as a member of the Wellesley College Business Leadership Council.
Ms. Bhagwati holds a Master of Public Administration in Economic Development & Finance from
Harvard University’s John F. Kennedy School of Government and a Bachelor of Arts in Political
Science from Wellesley College.
Ms. Bhagwati added, “I am honoured to join the Board of Kotak Mahindra Bank, a leader in India’s
banking sector. I look forward to contributing to the Bank’s strategic vision and working with the
distinguished members of the Board to drive sustainable growth and innovation.”
About Kotak Mahindra Bank Limited
Established in 1985, Kotak Mahindra Group is one of India’s leading financial services conglomerates.
In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received
banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company
in India to convert into a bank – Kotak Mahindra Bank Ltd (KMBL).
Kotak Mahindra Group (Group) offers a wide range of financial services that encompass every sphere
of life. From commercial banking, to stock broking, mutual funds, life and general insurance and
investment banking, the Group caters to the diverse financial needs of individuals and the corporate
sector. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified
financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host
of products and services designed to address the needs of the unbanked and insufficiently banked.
Kotak Mahindra Group has a global presence through its subsidiaries in UK, USA, Gulf Region,
Singapore and Mauritius with offices in London, New York, Dubai, Abu Dhabi, Singapore and Mauritius
respectively. As on 31st March, 2024 , Kotak Mahindra Bank Ltd has a national footprint of 1,948
branches and 3,291 ATMs (incl. cash recyclers), and branches in GIFT City and DIFC (Dubai).
For more information, please visit the Company’s website at

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