Kotak Mahindra Bank’s chief operating officer (COO) and chief technology officer (CTO) Milind Nagnur has stepped down due to personal reasons, the bank said in an exchange filing on Friday.

The RBI said it took action after its examination of Kotak's IT systems in 2022 and 2023 raised concerns that Kotak failed to address adequately.

Our agreed-upon final date for me at the firm will be Feb 15, 2025," Nagnur said in the letter. Nagnur joined Kotak Mahindra Bank in August 2022 as CTO to help with the bank's technological ...

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