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Uday Kotak steps down as MD and CEO of Kotak Mahindra Bank

Kotak Mahindra Bank’s managing director and chief executive officer, Uday Kotak, resigned with effect from September 1.

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Kotak Mahindra Bank’s managing director and chief executive officer, Uday Kotak, resigned with effect from September 1.

The bank has said that as an interim arrangement, Dipak Gupta, the joint managing director will perform the duties of the managing director and CEO until December 31, subject to the approval of the RBI and the members of the bank.

Uday Kotak said he is stepping down to facilitate the succession plan at the bank in a communication on social media on Saturday.

Kotak will continue as a non-executive director of the bank. Uday Kotak’s tenure as the chief executive officer and managing director of the bank ends on December 31, 2023.

Uday Kotak said on X that the chairman of the bank, Joint MD and including himself to step down by year-end. He said the succession at Kotak Mahindra Bank has been foremost on his mind. He is keen to ensure a smooth transition by sequencing these departures. He initiated this process now and stepped down voluntarily as CEO, Kotak said.

Kotak said the bank awaits RBI approval of the proposed successor and as an interim his colleague Dipak Gupta, currently Joint MD, will function as MD & CEO, subject to approvals.

He further said that he is deeply attached to the brand Kotak as he is the founder of the bank and he will continue to serve the institution as a Non-Executive Director and significant shareholder. He said that having an outstanding management team to carry the legacy forward. Founders go away, but the institution flourishes into perpetuity, Uday Kotak said.

Uday Kotak stated that JP Morgan and Goldman Sachs dominate the financial world and dreamed of creating such an institution in India. He further said that it is with this dream that he started Kotak Mahindra 38 years ago, with 3 employees in a 300 sqft office in Fort, Mumbai. He had deeply cherished every bit of this memorable journey and lived his dream.

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PM Modi to inaugurate Rs 169-crore RBI data centre in Odisha on October 25

Prime Minister Narendra Modi is scheduled to visit Odisha on October 25 to inaugurate the Reserve Bank of India’s Rs. 169-crore data centre in Jatni, near Bhubaneswar.

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Prime Minister Narendra Modi is scheduled to visit Odisha on October 25 to inaugurate the Reserve Bank of India’s (RBI) Rs. 169-crore data centre at Info Valley-II in Jatni, on the outskirts of Bhubaneswar.

According to the tentative itinerary shared by the Odisha Chief Secretary’s office, the Prime Minister is expected to arrive at Biju Patnaik International Airport in Bhubaneswar at around 4:30 pm aboard a special Indian Air Force aircraft. He will then travel by helicopter to the Khurda helipad before proceeding by road to the RBI facility for the inauguration.

The Prime Minister is likely to spend around an hour at the facility before returning to Bhubaneswar and departing from the state at approximately 6:30 pm.

RBI data centre to strengthen financial infrastructure

Spread across 18.55 acres, the new data centre is designed to strengthen the RBI’s data management, disaster recovery, cybersecurity and business continuity capabilities.

The facility will support critical central banking functions, including currency management, payment and settlement systems, and regulatory operations. It is also expected to serve as a backup to the RBI’s existing data centre in Navi Mumbai.

The new facility will be the RBI’s second data centre of this kind, following its existing centre in Navi Mumbai.

Why the data centre is located in Jatni

The site at Info Valley-II was selected for its geographical stability. According to an official, its location away from seismically active zones and high-risk international border areas is intended to reduce exposure to natural disasters and geopolitical vulnerabilities.

The project is intended to help maintain the continuity of essential RBI operations while strengthening the security and resilience of India’s financial infrastructure.

The foundation stone for the facility was laid by then RBI Governor Shaktikanta Das on March 22, 2023.

PM Modi’s ninth Odisha visit since 2024

The October 25 programme is expected to be Prime Minister Modi’s ninth visit to Odisha since the BJP government was formed in the state in 2024, according to Odisha BJP vice-president Jatin Mohanty.

Chief Minister Mohan Charan Majhi and Chief Secretary Anu Garg have reviewed preparations for the Prime Minister’s scheduled visit.

The inauguration is part of efforts to strengthen Odisha’s digital infrastructure. The project is also expected to support the state’s ambitions in technology and electronics manufacturing, as stated by the BJP leader.

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Om Prakash Mathur sworn in as Keralam Governor

Om Prakash Mathur was sworn in as Keralam Governor on Friday. Kerala High Court Chief Justice Soumen Sen administered the oath at Lok Bhavan in Thiruvananthapuram.

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Om Prakash Mathur, a veteran Bharatiya Janata Party (BJP) leader and former Governor of Sikkim, was sworn in as the Governor of Keralam on Friday, October 23. The oath-taking ceremony was held at Lok Bhavan in Thiruvananthapuram, where Kerala High Court Chief Justice Soumen Sen administered the oath of office.

Kerala Chief Minister V D Satheesan and members of his Cabinet attended the ceremony, along with leaders from various political parties. However, leaders of the Left Democratic Front (LDF), the state’s key opposition alliance, did not participate in the event, according to the report.

Before the oath was administered, the appointment order issued by President Droupadi Murmu was read out. Mathur took the oath in Hindi and formally assumed office. The ceremony concluded with the national song Vande Mataram and the national anthem being played by the band.

Who is Om Prakash Mathur?

Mathur hails from Bedal village in the Bali tehsil of Rajasthan’s Pali district. He graduated from Rajasthan University and entered public life as a pracharak of the Rashtriya Swayamsevak Sangh (RSS).

During his political career, Mathur served as the BJP’s national general secretary in charge of Gujarat and represented Rajasthan in the Rajya Sabha. He was appointed Governor of Sikkim in July 2024 before being named to the Keralam post in the latest gubernatorial reshuffle.

Mathur succeeds Rajendra Vishwanath Arlekar

Mathur replaces Rajendra Vishwanath Arlekar, who has been appointed Governor of Tamil Nadu. President Droupadi Murmu announced the gubernatorial appointments on October 12, with the changes taking effect as the appointees assumed charge of their respective offices.

The change comes against the backdrop of disputes between successive Kerala governments and governors over university administration. The governor also serves as the chancellor of the state’s universities, with responsibilities related to their administration.

Previous disagreements over the appointment of vice-chancellors and other senior university officials had led to legal proceedings. Both the LDF and the United Democratic Front (UDF) have raised objections to appointments they alleged involved individuals associated with the BJP and RSS.

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Two election commissioners complained against senior poll officer, RTI reveals

An RTI response has shed light on complaints by two Election Commissioners against a senior poll panel officer and the Cabinet Secretariat’s decision not to intervene directly.

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An RTI response has brought fresh details to light about complaints submitted by two Election Commissioners against a senior official of the Election Commission of India (ECI), including the Cabinet Secretariat’s decision not to intervene directly in the matter.

Election Commissioners Sukhbir Singh Sandhu and Vivek Joshi wrote separate letters to Cabinet Secretary T V Somanathan on July 29, 2026, raising concerns about the working of Senior Deputy Election Commissioner Maneesh Garg.

The complaints followed an order concerning the allocation of responsibilities among senior officers in the poll panel. The Cabinet Secretariat subsequently acknowledged the communications and shared them with relevant offices, while noting that direct action could be inappropriate without an official communication from the Commission as a whole.

Why the two Election Commissioners raised concerns

The dispute centred on a work-allocation order issued on July 28, when Garg took temporary charge as the link officer for the Deputy Election Commissioner handling administration, who was on leave.

According to the complaints, Garg issued an order reallocating responsibilities among senior and equivalent-ranking officers without discussing the changes with the Commission or the officers concerned.

Sandhu reportedly objected that the revised allocation had been made without consultation, while Joshi stated that a file he requested from the Administration Division was not provided to him.

The two Commissioners also referred to previous instructions against making such changes without prior discussion or approval from the Commission.

Why the Cabinet Secretariat did not intervene

Records disclosed through the RTI process indicate that the Cabinet Secretariat considered the complaints but concluded that direct intervention could be inappropriate.

In its internal deliberations, the Secretariat noted that the Election Commission is a constitutional body designed to function independently of executive interference. It also observed that the letters had been sent by the two Commissioners in their individual capacities rather than as an official communication from the Commission collectively.

The Secretariat therefore considered it appropriate to acknowledge the letters and inform the Chief Election Commissioner’s office, rather than take direct action against the official.

The Department of Personnel and Training was also informed so that the matter could be placed on record for future consideration concerning the officer.

What happened after the complaints

The Cabinet Secretariat’s records show that internal discussions took place on August 3 and August 4. The Cabinet Secretary acknowledged the two letters on August 5 and forwarded the matter to the relevant offices.

The Election Commission had also issued a clarification on September 26, stating that the dispute did not concern a policy matter or the Commission’s IT division, but the functioning of an officer posted to the poll panel.

The Commission said the work-reallocation orders were not implemented following directions from the two Commissioners and that oversight of the IT division had not actually been withdrawn.

The RTI disclosures provide an official record of how the complaints were handled by the Cabinet Secretariat, while also highlighting the institutional considerations involved in deciding whether the executive should intervene in the functioning of a constitutional body.

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