Kotak Mahindra Bank Names Anup Kumar Saha as Next MD & CEO
Private sector lender Kotak Mahindra Bank has announced a major leadership succession, confirming that the Reserve Bank of India (RBI) has approved the appointment of Anup Kumar Saha as its next Managing Director and Chief Executive Officer. In a regulatory disclosure submitted to the stock exchanges, the bank verified that the central banking authority granted formal clearance via an official communication dated September 30, 2026, under Section 35B of the Banking Regulation Act, 1949. Saha is slated to assume executive leadership on January 1, 2027, serving a three-year term subject to requisite shareholder approval.
Succeeding Ashok Vaswani to Steer Private Banking Giant
The leadership mantle passes to Saha as he prepares to take over from incumbent MD and CEO Ashok Vaswani. Currently serving on the board as a Whole-Time Director (Executive Director), Saha has been deeply embedded in the lender's operational machinery since joining Kotak Mahindra Bank in January 2026. Since March 2026, he has actively spearheaded retail banking operations, strategic data analytics, and brand marketing initiatives, driving digital transformation and retail customer acquisition across nationwide branch networks.
A Steller 32-Year Career Across ICICI Bank and Bajaj Finance
Saha brings over 32 years of industry experience to the corner office, including nearly a quarter-century within core banking and non-banking financial companies (NBFCs). Before joining Kotak Mahindra Bank, he spent over eight years at Bajaj Finance between October 2017 and January 2026, ascending to the role of Managing Director and CEO in April 2025 before stepping down in July 2025. Prior to his tenure at Bajaj Finance, Saha built a formidable 14-year career at ICICI Bank from May 2003 to June 2017, leading high-impact verticals including retail secured assets, credit cards, business intelligence, retail structured finance, and rural collections.
IIT Kharagpur and IIM Lucknow Alumnus to Drive Long-Term Growth
Saha’s early professional foundation included assignments at GE Capital and state-run engineering enterprise Bharat Heavy Electricals Limited (BHEL). Academically, he holds a Bachelor of Technology degree in engineering from IIT Kharagpur and a Master of Business Administration from IIM Lucknow. Welcoming the banking regulator’s endorsement, Kotak Mahindra Bank Chairman C.S. Rajan emphasized that Saha’s deep domain expertise across consumer credit, institutional governance, and digital financial architectures positions the bank for sustained asset expansion and market competitiveness.
