Ahead of the end of his term as the Kotak Mahindra Bank's chief executive and managing director, Uday Kotak has said he will be a "non-executive board governance member and a strategic shareholder" going ahead. In the private sector lender's annual report, the last such message from him as the MD and CEO before he relinquishes the position at the end of 2023, Kotak reminisced about the institution's journey, pointing out that Rs 10,000 invested in 1985 is worth over Rs 300 crore today. "Going forward, I see my role as a non-executive board governance member and a strategic shareholder with a long term perspective of nurturing a world class institution," Kotak said in the annual report.
Till 3 pm Mumbai and suburbs saw a muted 40 per cent voting, but for those who voted it was an occasion to remember.
Maharashtra Deputy Chief Minister Eknath Shinde, amid reports of growing discord with Chief Minister Devendra Fadnavis, has issued a warning, stating, "Don't take me lightly." Shinde's remarks come amidst a series of events suggesting tensions between the two leaders, including the appointment of guardian ministers for Raigad and Nashik, the establishment of separate project monitoring cells, and Shinde's absence from several meetings convened by Fadnavis. The recent downgrading of police security for 20 Shiv Sena MLAs further fuels speculation of a growing rift. While both leaders have denied any discord, the events suggest a power struggle within the ruling alliance.
'It was not our intention to hurt anyone's sentiments.'
The camaraderie in the dressing room has played a significant role in Indian team's dominant run in the U19 World Cup, skipper Uday Sharan said on Thursday and vowed to bring the trophy back home.
Maharashtra Minister Uday Samant on Friday claimed that many leaders from the opposition Shiv Sena-UBT were in touch with his party and would be inducted in phases.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
Samajwadi Party MLA Abu Asim Azmi's remarks praising Mughal emperor Aurangzeb sparked outrage in the Maharashtra legislature, leading to calls for his suspension and accusations of treason. The issue, which was politicized by both the ruling coalition and opposition parties, led to the adjournment of both Houses of the state legislature. Azmi later retracted his statements, saying they were twisted and that he had not made any derogatory remarks against Shivaji Maharaj or Sambhaji Maharaj. The BJP, however, seized the opportunity to slam the Congress and other opposition parties, accusing them of trying to "eradicate" Sanatan Dharma. The Mumbai police have initiated a probe into the matter, registering a case against Azmi for his remarks.
Shinde told us he wanted to build the organisation but honoured our request
Devendra Fadnavis, the Chief Minister of Maharashtra, inducted 39 ministers into his cabinet on Sunday. The new cabinet includes members from the BJP, Shiv Sena, and NCP, reflecting the coalition government formed after the recent state elections.
The Maharashtra Assembly elections witnessed the continued influence of political dynasties, with prominent families retaining their strongholds across the state. The Thackareys and the Ranes emerged as dominant forces, securing victories in various regions. The Rane brothers, Nilesh and Nitesh, won in Sindhudurg, while Uday and Kiran Samant secured victories in Ratnagiri. In Mumbai, Aaditya Thackeray retained his Worli seat, while his cousin Varun Sardesai won in Vandre East. The results underscore the enduring power of family connections in Indian politics.
From disagreement over guardian minister's post to taking separate review meetings to separate medical cells and 'war rooms' for monitoring projects, the unease between Maharashtra Chief Minister Devendra Fadnavis and his deputy Eknath Shinde seems to be growing.
Chhaava deserves 2 stars for the historically half-baked film that it is, but 4 stars just for its attempt on making a film on Sambhaji, observes Prasanna D Zore.
With this, the Shiv Sena has become the second major political party to release its list of candidates for the state assembly polls. Its ally BJP released a list of 99 candidates on Sunday.
Loud music, bombastic action scenes, over-the-top dialogues that don't have any ring of truth to it followed by scenes of blood-oozing bodies floating in a river definitely don't make for a magnum opus!' exclaims Prasanna D Zore after watching the Chhaava trailer.
Pankaja Munde of the BJP -- Dhananjay Munde's cousin -- has been made the guardian minister of Jalna district.
Amid escalating tensions at the Uday Pratap College in Varanasi over a mosque located on its premises, police on Thursday restricted outsiders' entry to the campus, allowing only students with valid identity cards.
"We have no problem if the students here offer namaaz or worship in the mosque or temple on the college premises. But we do not accept that outsiders are gathering here in the name of offering namaz on the college premises," he said.
Reliance Industries Limited (RIL), Viacom18 Media (Viacom18), and The Walt Disney Company announced on Thursday that they have completed the merger of Viacom18's media and JioCinema businesses into Star India (SIPL), creating a mega joint venture valued at Rs 70,352 crore. The new entity will be guided by three chief executive officers (CEOs), "who will lead the company into a new era of ambition and disruption", according to a joint statement. Kevin Vaz will lead the entertainment division across all platforms, Kiran Mani will head the combined digital division, and Sanjog Gupta will oversee the sports operations.
'We have to be prepared for the larger disruption that is likely to take place.'
Shiv Sena's Dadaji Bhuse is the new school education minister while Uday Samant continues to be the industries minister.
'More than Eknath Shinde's wish, we want him (Shinde) to lead us in the government.'
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
A day after the RBI raised the benchmark lending rate by 35 basis points, Kotak Mahindra Bank Managing Director Uday Kotak on Thursday said the central bank may go for one more rate hike to bring inflation below its upper tolerance level of 6 per cent. Yesterday, the RBI indicated that it wants inflation to be within the band first and then move towards the target of 4 per cent, Kotak said at the CII Global Economic Policy Summit 2022. "My sense is that there could be one more rate hike and that may be the time for thinking about a pivot, but we got to watch very closely the data, and maybe around 6.5 per cent as it looks today, subject to what happens to the world, subject to what happens to oil, subject to what happens to many other things," he said.
Shinde was reportedly not happy as he had to cede the top post to the ally BJP, and was reluctant to take the deputy CM post.
Amid intense discussions among Mahayuti allies over the distribution of portfolios and Eknath Shinde-led Shiv Sena's insistence on the home ministry, the clarity on the composition of the council of ministers is expected by Sunday, sources said.
Industry leaders including Google's India-born chief executive Sundar Pichai on Wednesday mourned the death of Ratan Tata, saying the veteran industrialist cared about making India better. "He leaves an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Pichai said in a post on X. Pichai recalled that his last meeting with Tata was at Google's office where they spoke about the progress of self-driving car Waymo.
Ajit Pawar's NCP, a constituent of Mahayuti, was winning or leading in 41 of the 59 seats it contested as per the latest figures released by the Election Commission.
Shinde had retained most of the sitting MLAs, who chose to be with him when he led the rebellion two years ago. They delivered for him on Saturday when votes for the state polls were counted.
The employees called off the strike following government's assurance of a salary hike
The power ministry is planning to start a second version of UDAY, aimed only at reducing the losses of discoms and improving the quality of power supply.
The BJP-led Mahayuti alliance, which secured a landslide victory in the recent Maharashtra assembly elections, is set to form the new government in the state. Outgoing Chief Minister Eknath Shinde, his deputies Devendra Fadnavis and Ajit Pawar met Union Home Minister Amit Shah to finalize a power-sharing agreement. The alliance partners, BJP, Shiv Sena and NCP, will decide on ministerial berths at the meeting with Shah. Political circles are abuzz about the social equations in Maharashtra influencing the choice of the next Chief Minister.
'Just being recognised for all my efforts towards the game feels good.'
He did not divulge any further information on what is going to be an intricate issue and hard bargaining.
The poll aspirants who feel threatened are seeking to garner sympathy from their voters by meeting influential leaders like Jarange in the Marathwada region
Congress leader Jairam Ramesh on Monday hit out at the Election Commission for the 'tone and tenor' of its recent letter to his party while also urging the poll body to act against 'communal and incendiary rhetoric' allegedly used by Assam Chief Minister Himanta Biswa Sarma during poll campaigns.
The Congress on Friday hit out at the Election Commission after it rejected allegations over irregularities in the Haryana assembly polls, saying if the poll panel's goal is to 'strip itself of the last vestiges of neutrality', then it is doing a 'remarkable job' at creating that impression.
Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
Their lists show that a significant number of contenders are closely related to the current ministers, legislators or MPs, including their sons or daughters, wives and brothers or sisters.
Billionaire banker Uday Kotak founded bank as well as brokerage created and oversaw an offshore fund used by an unnamed investor to profit from a plunge in Adani shares that followed a damning Hindenburg report, the US short seller said on Tuesday. Hindenburg Research, which had in a January 2023 report alleged stock market manipulations and accounting fraud at the Adani group, said it has received a show cause notice from the Indian markets regulator Sebi over gains made from betting on the conglomerate's shares.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances