Kotak Mahindra Bank Shares Jump Over 4% After RBI Approves Anup Kumar Saha As New MD & CEO

Shares of Kotak Mahindra Bank gained more than 3% in early trading on October 1 after the private sector lender announced the appointment of Anup Kumar Saha as its new Managing Director and CEO.

The stock climbed as much as 4.29% in the early trade before giving up some gains. At 11:15 am, shares were trading 2.4% higher at Rs 427 on the BSE.

Saha will assume the top position for a three-year term beginning January 1, 2027, replacing Ashok Vaswani. He joined Kotak Mahindra Bank in January 2026 and currently serves as a whole-time director (executive director), with responsibility for the retail banking business, government business, data analytics and marketing.

Prior to joining Kotak Mahindra Bank, Saha held multiple senior leadership positions at Bajaj Finance.

Vaswani expressed confidence in Saha's leadership, saying he would help the bank strengthen customer relationships while continuing to pursue its growth objectives with purpose and discipline.