Kotak Mahindra Bank shares in focus on RBI nod for Anup Kumar Saha as MD & CEO

Shares of Kotak Mahindra Bank Ltd (KMB) are in focus after the Reserve Bank of India approved the appointment of Anup Kumar Saha as the private lender’s new Managing Director & CEO for a period of three years, effective January 1, 2027.

In a filing with stock exchanges, KMB said its board of directors will initiate further steps in due course to formalise the appointment and seek members’ approval for the same.

Saha is currently Whole-time Director (Executive Director) of Kotak Mahindra Bank. He joined the lender in January 2026 and, since March 2026, has overseen the Retail Bank, Data Analytics and Marketing functions.

Present Managing Director & CEO Ashok Vaswani said: “Anup is a seasoned financial services leader with deep experience across businesses, customer segments and operating functions. Since joining Kotak, he has worked closely with our teams and demonstrated a clear understanding of the opportunities ahead. I am confident that Anup will build on Kotak’s strong foundations, deepen its customer relationships and lead the Bank forward with purpose and discipline. I wish him every success.”

Saha has over 32 years of professional experience, including 25 years in financial services across banking and non-banking financial institutions. Before joining Kotak, he held a series of senior leadership roles at Bajaj Finance Limited, culminating in his appointment as Managing Director & CEO.

Earlier, during his 14 years at ICICI Bank Limited, he led businesses and functions spanning Retail Secured Assets, Business Intelligence, Retail and Rural Collections, Credit Cards and Retail Structured Finance.

Earlier in his career, Saha worked with GE Capital across credit cards, sales and analytics and with Bharat Heavy Electricals Limited in production engineering. He holds a B.Tech degree in Engineering from IIT Kharagpur and an MBA from IIM Lucknow.

C. S. Rajan, Chairman of the Board, Kotak Mahindra Bank, said: “We welcome the Reserve Bank of India’s approval. Anup brings with him extensive experience across banking and financial services and has already been actively engaged with the Bank’s businesses in his current role. As the Bank continues to build on its strong foundations we look forward to Anup’s leadership in strengthening the franchise and in pursuing sustainable growth. On behalf of the Board, I wish Anup every success in leading Kotak into its next phase of growth.”