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RBI Approves Anup Kumar Saha as Kotak Bank CEO
Kotak Mahindra Bank has chosen Anup Kumar Saha to become its next top leader.
The Reserve Bank of India approved his appointment for three years.
He will start on January 1, 2027.
Saha will replace Ashok Vaswani, who will finish his current term at the end of 2026.
Saha joined Kotak in early 2026 and already helps manage several important parts of the bank.
He has worked in banking and finance for more than 32 years.
Before joining Kotak, he held senior jobs at Bajaj Finance, ICICI Bank and GE Capital.
The bank says he will focus on customers, growth and building long-term value.
The Reserve Bank of India approved Anup Kumar Saha as Kotak Mahindra Bank’s MD and CEO for three years.
Saha will take charge on January 1, 2027, succeeding Ashok Vaswani, whose term ends December 31, 2026.
Saha joined Kotak in January 2026 and became a whole-time director and executive director in March.
He has more than 32 years of professional experience, including 25 years in financial services.
Before Kotak, Saha held senior roles at Bajaj Finance, ICICI Bank and GE Capital.
- Who
- Anup Kumar Saha, Kotak Mahindra Bank and the Reserve Bank of India; Saha will succeed Ashok Vaswani.
- What
- The RBI approved Saha’s appointment as Kotak Mahindra Bank’s managing director and chief executive officer for a three-year term.
- Where
- Kotak Mahindra Bank in India.
- When
- Saha will take charge on January 1, 2027; Vaswani’s current term ends December 31, 2026.
- Why
- The transition follows Vaswani’s decision not to seek reappointment after his current term, citing personal reasons.
Key facts
- Incoming CEO
- Anup Kumar Saha
- Appointment term
- Three years beginning January 1, 2027
- Outgoing CEO
- Ashok Vaswani
- Saha’s Kotak start
- January 2026
- Professional experience
- More than 32 years overall, including 25 years in financial services
- June-quarter customer assets
- ₹5.71 trillion, up 16% year on year
- June-quarter standalone net profit
- ₹4,123 crore, up 26% year on year
Quotes
Anup Kumar Saha
Incoming Kotak Mahindra Bank managing director and chief executive officer
“I look forward to working with my colleagues to deepen customer relationships, tirelessly execute and build sustainable value for shareholders and all our stakeholders. We will remain firmly focused on doing the right thing and getting it right by the customer.”
livemint.com
“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,”
financialexpress.com
Ashok Vaswani
Outgoing Kotak Mahindra Bank managing director and chief executive officer
“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.”
livemint.com
“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.”
livemint.com
Sources
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