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Ashok Vaswani, who built banking businesses for financial powerhouses such as Barclays and Citigroup across continents, will return to India as the first non-promoter chief executive of Kotak Mahindra Bank, harnessing his global expertise to lead a lender that his predecessor — and founder — Uday Kotak had taken to the very top of the valuation leader-board from a modest pre-liberalisation start.
Sales of luxury cars with price tags of more than ₹1 crore raced past those costing ₹75-99 lakh for the first time in India in the first nine months of this year, according to estimates of market research company Jato Dynamics.
ICICI Bank’s net profit rose 36% to ₹10,261 crore in the second quarter amid continued loan growth and a rise in fee income as asset quality remained stable.
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