Kotak Mahindra Bank Gets RBI Nod For Anup Kumar Saha As MD And CEO, Shares Rise 4.11% On Leadership Clarity

Mumbai: Kotak Mahindra Bank has received Reserve Bank of India approval to appoint Anup Kumar Saha as managing director and chief executive officer for three years from January 1, 2027.

The private sector lender announced the approval on Thursday, bringing clarity to its leadership transition.

Saha will succeed Ashok Vaswani, who has decided against seeking reappointment after completing his term.

From Executive Director To MD And CEO

Saha joined Kotak Mahindra Bank as executive director earlier this year. He currently oversees retail banking, data analytics and marketing.

Before joining Kotak, he spent a substantial period at ICICI Bank and also worked with non-bank lender Bajaj Finance.

His elevation places an executive already involved in the bank’s businesses at the helm for its next leadership term.

Vaswani Backs Incoming Bank Chief

Vaswani said Saha had worked closely with teams since joining and developed a clear understanding of the opportunities ahead.

He expressed confidence that Saha would strengthen the bank’s foundations, deepen customer relationships and guide its progress with purpose and discipline.

Chairman C S Rajan said Saha was already actively engaged with Kotak’s businesses in his present role.

Rajan added that the bank looked forward to his leadership in strengthening its franchise and pursuing sustainable growth.

Customer Relationships And Shareholder Value

Saha highlighted Kotak’s franchise, trusted brand and workforce.

He said his priorities would include working with colleagues to deepen customer relationships, improve execution and create sustainable value for shareholders and other stakeholders.

The announcement resolves a closely watched leadership appointment within India’s private banking sector.

HDFC Bank is also undergoing a leadership transition and has submitted two names to the RBI.

Kotak Mahindra Bank Shares Rise

Investors welcomed the leadership clarity. Kotak Mahindra Bank shares traded 4.11 per cent higher at ₹434.75 apiece on the BSE at 10:44 am.

The gain came despite a marginal decline in the benchmark index during the same trading session.