Archive · 1 Oct 2026
RBI Approves Anup Kumar Saha as Kotak CEO
The Reserve Bank of India has approved Anup Kumar Saha to become the next leader of Kotak Mahindra Bank.
He is expected to start as managing director and CEO on January 1, 2027.
He will replace Ashok Vaswani, whose term ends next year.
Saha already works at Kotak as a whole-time director.
He joined the bank in January 2026 and manages several important areas.
Before that, he led Bajaj Finance and worked at ICICI Bank.
He has worked for more than 32 years, mostly in financial services.
Kotak’s board and current CEO say they believe he can help the bank grow and build stronger customer relationships.
The Reserve Bank of India approved Anup Kumar Saha as Kotak Mahindra Bank’s managing director and CEO for three years.
Saha is scheduled to take over from Ashok Vaswani on January 1, 2027, subject to shareholder approval and other formal steps.
Saha joined Kotak in January 2026 and currently serves as a whole-time director overseeing retail banking, data analytics and marketing; one report also includes government business.
Before Kotak, Saha was managing director and CEO of Bajaj Finance and spent 14 years in senior roles at ICICI Bank.
Saha has more than 32 years of professional experience, including 25 years in banking and non-banking financial services.
- Who
- Anup Kumar Saha, with support from Kotak Mahindra Bank’s board and current CEO Ashok Vaswani.
- What
- The Reserve Bank of India approved Saha’s appointment as managing director and CEO of Kotak Mahindra Bank for three years.
- When
- He is scheduled to take over on January 1, 2027; shareholder approval and other formal steps remain.
- Where
- Kotak Mahindra Bank in India.
- Why
- The bank said Saha is expected to strengthen its franchise, deepen customer relationships and pursue sustainable growth.
- Appointee
- Anup Kumar Saha
- New role
- Managing director and CEO of Kotak Mahindra Bank
- Start date
- January 1, 2027
- Appointment term
- Three years, subject to further formalities
- Current Kotak role
- Whole-time director; overseeing retail banking, data analytics and marketing, with one report also citing government business
- Professional experience
- More than 32 years, including 25 years in financial services
- Previous leadership
- Managing director and CEO of Bajaj Finance; senior leadership roles at ICICI Bank
- Education
- B.Tech from IIT Kharagpur and MBA from IIM Lucknow
