The Reserve Bank of India (RBI) has given its approval for the appointment of Anup Kumar Saha as the new Managing Director & CEO of Kotak Mahindra Bank (KMB). Saha's tenure is set for three years, commencing on January 1, 2027. This significant development has drawn considerable attention to the private sector bank's shares in the market.
Kotak Mahindra Bank confirmed the RBI's decision in a filing to stock exchanges, stating that its board of directors would undertake the necessary steps to formalise the appointment and secure members' approval in due course.
Who is Anup Kumar Saha?
Anup Kumar Saha currently serves as a Whole-time Director (Executive Director) at Kotak Mahindra Bank. He joined the institution in January 2026 and, since March 2026, has been instrumental in overseeing the Retail Bank, Data Analytics, and Marketing functions.
Extensive Leadership Experience
Saha brings over 32 years of professional experience to his new role, with 25 of those years dedicated to financial services across both banking and non-banking financial institutions. Prior to joining Kotak, he held several senior leadership positions at Bajaj Finance Limited, ultimately rising to the role of Managing Director & CEO.
His career also includes a 14-year stint at ICICI Bank Limited, where he led diverse businesses and functions such as Retail Secured Assets, Business Intelligence, Retail and Rural Collections, Credit Cards, and Retail Structured Finance. Earlier in his professional journey, Saha worked with GE Capital in credit cards, sales, and analytics, and with Bharat Heavy Electricals Limited in production engineering.
Academically, Saha is highly qualified, holding a B.Tech degree in Engineering from IIT Kharagpur and an MBA from IIM Lucknow.
Leadership's Vision for Kotak Mahindra Bank
Ashok Vaswani, the current Managing Director & CEO, expressed his confidence in his successor:
“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. 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.”
C. S. Rajan, Chairman of the Board at Kotak Mahindra Bank, also welcomed the RBI's approval:
“We welcome the Reserve Bank of India’s approval. 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. 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.”
With Anup Kumar Saha at the helm, Kotak Mahindra Bank is poised to continue its trajectory of growth, leveraging his extensive experience to strengthen its market position and customer relationships.