Kotak Mahindra Bank on Thursday announced that the Reserve Bank of India (RBI) has approved the appointment of Anup Kumar Saha as its next Managing Director and Chief Executive Officer (MD and CEO).
The appointment is for three years, effective January 1, 2027, the bank said in a stock exchange filing.
Saha will succeed Ashok Vaswani, the current MD and CEO. He 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, Data Analytics and Marketing function.
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“The Board of Directors of the Bank will initiate further steps in due course, to formalize the aforesaid appointment and also seek members' approval for the same,” Kotak Mahindra Bank said in a release.
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Anup 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 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.
“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,” said C. S. Rajan, Chairman of the Board, Kotak Mahindra Bank.
On Wednesday, Kotak Mahindra Bank share price ended 2.86% higher at Rs 417.60 apiece on the BSE.
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