Kotak Mahindra Bank In Focus: Kotak Mahindra Bank on Thursday said the Reserve Bank of India (RBI) has approved the appointment of Anup Kumar Saha as the bank's next Managing Director and Chief Executive Officer (MD & CEO) for a period of three years, effective January 1, 2027.
The bank's Board of Directors will initiate further steps to formalise the appointment and seek members' approval, Kotak Mahindra Bank said.
Saha is currently Whole-time Director (Executive Director) of Kotak Mahindra Bank. He joined the bank in January 2026 and, since March 2026, has overseen the Retail Bank, Government Business, Data Analytics and Marketing functions.
Anup Kumar Saha To Succeed Ashok Vaswani As Kotak Mahindra Bank MD & CEO
Saha will succeed Ashok Vaswani as MD & CEO of Kotak Mahindra Bank from January 1, 2027.
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,” Rajan said.
Vaswani, the current MD & CEO, said Saha is a “seasoned financial services leader” with 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,” Vaswani said.
Anup Kumar Saha: 32 Years Of Professional Experience
Saha has more than 32 years of professional experience, including 25 years in financial services across banking and non-banking financial institutions.
Before joining Kotak Mahindra Bank, Saha was associated with Bajaj Finance Limited from October 2017 to January 2026, where he held a series of senior leadership positions.
He started as President–Consumer Finance from October 2017 to March 2019, followed by the role of Deputy CEO–Consumer, MSME, Marketing, Operations & Service and Digital Platform from April 2019 to March 2022.
Saha subsequently served as Executive Director from April 2023 to March 2024, Deputy Managing Director from April 2024 to March 2025, and Managing Director & CEO from April 2025 until his resignation in July 2025.
In his Executive Directorship roles at Bajaj Finance, Saha was responsible for the entire standalone business of the company.
Anup Kumar Saha's ICICI Bank, GE Capital Experience
Before Bajaj Finance, Saha spent 14 years at ICICI Bank from May 2003 to June 2017.
At ICICI Bank, he held senior roles across Retail Secured Assets, Business Intelligence, Retail and Rural Collections, Credit Cards and Retail Structured Finance.
He also served as a Nominee Director of ICICI Bank on the boards of TransUnion CIBIL Limited and ICICI Home Finance Limited.
Earlier in his career, Saha worked with GE Capital from 1999 to 2003, looking after credit cards, sales and analytics. He also worked with Bharat Heavy Electricals Limited (BHEL) in production engineering from 1991 to 1995, following a brief stint in consumer durable sales.
Anup Kumar Saha Education: IIT Kharagpur, IIM Lucknow
Saha holds a B.Tech degree in Engineering from IIT Kharagpur and an MBA from IIM Lucknow.
What Anup Kumar Saha Said On Becoming Kotak Mahindra Bank MD & CEO
Commenting on his appointment, Saha said, “I am grateful to the Board for the trust placed in me and delighted to have the opportunity to lead Kotak Mahindra Bank.”
“Kotak has a strong franchise, a trusted brand and talented teams across the organisation. I look forward to working with my colleagues to deepen customer relationships, tirelessly execute and build sustainable value for shareholders and all our stakeholders,” he said.
“We will remain firmly focused on doing the right thing and getting it right by the customer,” Saha added.
Saha's appointment is for three years from January 1, 2027, subject to the completion of the bank's formal appointment process and members' approval. The RBI approval was communicated to the bank through a letter dated September 30, 2026.
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