Archive · 1 Oct 2026
RBI Approves Anup Kumar Saha to Lead Kotak Mahindra Bank
Kotak Mahindra Bank has chosen Anup Kumar Saha to be its next top leader.
The Reserve Bank of India approved his appointment.
He will become managing director and chief executive officer on January 1, 2027.
His first term will last three years.
He will replace Ashok Vaswani, who is not seeking another term.
Saha already works at the bank as an executive director.
He looks after areas such as retail banking, data analytics and marketing.
Investors reacted positively, and the bank’s shares rose in early trading.
The Reserve Bank of India approved Anup Kumar Saha as Kotak Mahindra Bank’s managing director and chief executive officer.
Saha will serve a three-year term beginning January 1, 2027, succeeding Ashok Vaswani.
Saha joined Kotak Mahindra Bank in January 2026 and currently serves as an executive director.
His responsibilities include retail banking, government business, data analytics and marketing.
Kotak Mahindra Bank shares rose more than 4% in early trading after the announcement, although reported gains later eased.
- Who
- Anup Kumar Saha will become Kotak Mahindra Bank’s managing director and chief executive officer, replacing Ashok Vaswani.
- What
- The Reserve Bank of India approved Saha’s appointment for an initial three-year term.
- When
- The appointment takes effect on January 1, 2027.
- Where
- The announcement concerns Kotak Mahindra Bank, a private sector lender in India; its shares traded on the BSE.
- Why
- The appointment establishes the bank’s next leadership and follows Vaswani’s decision not to seek reappointment.
- Appointee
- Anup Kumar Saha
- Position
- Managing director and chief executive officer
- Term
- Three years from January 1, 2027
- Outgoing chief
- Ashok Vaswani
- Current role
- Executive director at Kotak Mahindra Bank
- Current responsibilities
- Retail banking, government business, data analytics and marketing
- Market reaction
- Shares rose as much as 4.29% in early trading; one report cited a price of ₹434.75 at 10:44 a.m., while another cited ₹427 at 11:15 a.m.
