Anup Kumar Saha to be next MD & CEO of Kotak Mahindra Bank; RBI clears appointment
The Reserve Bank of India has approved Anup Kumar Saha as the next MD & CEO of Kotak Mahindra Bank, effective January 1, 2027. He will succeed Ashok Vaswani, who is stepping down for personal reasons.
Why it matters
Leadership changes at major financial institutions have significant implications for market stability and corporate strategy in the banking sector.
The Reserve Bank of India (RBI) has approved the appointment of Anup Kumar Saha as the Managing Director & Chief Executive Officer (MD & CEO) of Kotak Mahindra Bank Ltd. for a period of three years, effective January 1, 2027, the bank said in a statement on Thursday (October 1, 2026).
The Board of Directors of the Bank will initiate further steps in due course, to formalise the aforesaid appointment and also seek members’ approval for the same, it said.
Mr. Saha will replace Ashok Vaswani whose term as Kotak Mahindra Bank’s Managing Director & CEO will end on December 31, 2026. He had not sought a re-appointment due to personal reasons. The veteran banker had replaced Uday Kotak in January 2024.
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