The Reserve Bank of India has approved the appointment of Anup Kumar Saha as the next managing director and chief executive officer of Kotak Mahindra Bank for a period of three years, effective January 1, 2027, the lender announced on October 1.
The approval, conveyed through an RBI letter dated September 30, is subject to approval by the bank's shareholders. Saha will succeed Ashok Vaswani, whose tenure as MD and CEO ends on December 31, 2026. Vaswani did not seek a reappointment.
Who is Anup Kumar Saha
Saha currently serves as a whole-time director and executive director of Kotak Mahindra Bank, a role he took up in January 2026. In his current position, he oversees retail banking, government business, data analytics and marketing at India's fourth-largest private-sector lender.
He brings more than 32 years of experience across financial services. Before joining Kotak, Saha was managing director and CEO of Bajaj Finance from April to July 2025, and earlier spent 14 years at ICICI Bank. His career also includes stints at GE Capital and BHEL. He holds a BTech from IIT Kharagpur and an MBA from IIM Lucknow.
A busy season of banking leadership changes
The announcement comes a day after HDFC Bank named Anup Bagchi as its next chief executive — a separate appointment at a separate lender that should not be confused with Saha's move to Kotak. Two of India's largest private banks will now begin 2027 with new leadership at the top.
Sources: The Hindu | Business Standard | The Economic Times
The approval, conveyed through an RBI letter dated September 30, is subject to approval by the bank's shareholders. Saha will succeed Ashok Vaswani, whose tenure as MD and CEO ends on December 31, 2026. Vaswani did not seek a reappointment.
Who is Anup Kumar Saha
Saha currently serves as a whole-time director and executive director of Kotak Mahindra Bank, a role he took up in January 2026. In his current position, he oversees retail banking, government business, data analytics and marketing at India's fourth-largest private-sector lender.
He brings more than 32 years of experience across financial services. Before joining Kotak, Saha was managing director and CEO of Bajaj Finance from April to July 2025, and earlier spent 14 years at ICICI Bank. His career also includes stints at GE Capital and BHEL. He holds a BTech from IIT Kharagpur and an MBA from IIM Lucknow.
A busy season of banking leadership changes
The announcement comes a day after HDFC Bank named Anup Bagchi as its next chief executive — a separate appointment at a separate lender that should not be confused with Saha's move to Kotak. Two of India's largest private banks will now begin 2027 with new leadership at the top.
Sources: The Hindu | Business Standard | The Economic Times
