- Manish Kothari resigned as Kotak Mahindra Bank’s group president, effective Sept 30, 2026
- Kotak integrated Kothari’s commercial bank portfolio into retail and institutional segments
- Kothari plans to pursue ventures outside Kotak after nearly 31 years with the group
Kotak Mahindra Bank's group president and head of commercial bank, Manish Kothari, has resigned from the lender, with his resignation taking effect at the close of business on September 30, 2026.
In a regulatory filing dated September 10, the bank said it had received Kothari's resignation and had begun a planned transition of his responsibilities. The lender said the commercial bank portfolio handled by Kothari has been integrated into its retail and institutional business segments.
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Kothari, in his resignation letter addressed to Managing Director and CEO Ashok Vaswani, said he plans to pursue a journey outside Kotak, which could include an entrepreneurial venture.
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Kothari continued that he had discussed his plans with Vaswani several months ago and had since worked with the bank's whole-time directors and business heads to ensure a smooth transition.
The exit marks the end of Kothari's nearly 31-year association with the Kotak group. He said the organisation had become an important part of his professional identity and thanked its leadership, colleagues and teams for their support during his tenure.
Kothari has been a senior member of Kotak's leadership team for more than 15 years. He became head of commercial banking in 2022, overseeing businesses including agricultural finance, rural finance, logistics and infrastructure financing, microcredit and gold loans.
His departure comes during a period of leadership transition at Kotak Mahindra Bank. CEO Ashok Vaswani has already decided not to seek reappointment after his current term ends on December 31, 2026.
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The bank has recommended Anup Saha and Paritosh Kashyap as potential successors to the Reserve Bank of India.
Kothari said he was leaving with “immense pride” in what he had helped build at Kotak and would carry the experience into the next phase of his career.
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