India’s Kotak Mahindra Bank drops over 2% after naming new CEO

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MUMBAI, Oct 23 (Reuters) – Shares of Indian private lender Kotak Mahindra Bank (KTKM.NS) fell more than 2% on Monday after it named veteran banker Ashok Vaswani as managing director and chief executive.

Shares of the bank fell as much as 2.7% to 1722.45 rupees on Monday.

Reporting by Siddhi Nayak; Editing by Nivedita Bhattacharjee

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