Anup Kumar Saha will take over as the Managing Director (MD) and Chief Executive Officer (CEO) of Kotak Mahindra Bank beginning January 1, 2027. He will succeed the current MD and CEO, Ashok Vaswani, whose term ends on December 31, 2026.
- Anup Kumar Saha has been approved by the Reserve Bank of India for a three-year term as MD and CEO.
- He currently serves as Whole-time Director (Executive Director) at Kotak Mahindra Bank.
- Saha has extensive experience in retail banking, government business, data analytics, and marketing.
- He has worked in the financial services sector since the late 1990s.
- Saha holds degrees from IIT Kharagpur and IIM Lucknow.
Who is Anup Kumar Saha?
Anup Kumar Saha, aged 57, is a seasoned financial services professional with a strong background in various banking sectors. He is currently a Whole-time Director at Kotak Mahindra Bank, where he joined in January 2026. Since March 2026, he has overseen retail banking, government business, data analytics, and marketing functions at the bank.
What is Anup Kumar Saha's career background?
Saha began his career in engineering, working at Bharat Heavy Electricals Ltd from 1991 to 1995 in production engineering. He also had a brief stint in consumer durable sales before moving into the financial services sector in the late 1990s.
In 1999, he joined GE Capital, where he worked on credit cards, sales, and analytics until 2003. After that, he spent 14 years at ICICI Bank, from May 2003 to June 2017. At ICICI Bank, he held several senior positions, managing retail secured assets, business intelligence, retail and rural collections, credit cards, and retail structured finance. He also served as a nominee director on the boards of TransUnion CIBIL Ltd and ICICI Home Finance Ltd.
Following his tenure at ICICI Bank, Saha joined Bajaj Finance in October 2017 and worked there until January 2026, holding various senior roles.
What qualifications does Anup Kumar Saha have?
Saha holds a Bachelor of Technology (B.Tech) degree in engineering from the Indian Institute of Technology (IIT) Kharagpur. He also earned a Master of Business Administration (MBA) from the Indian Institute of Management (IIM) Lucknow.
What did Ashok Vaswani say about Anup Kumar Saha?
Ashok Vaswani, the current MD and CEO of Kotak Mahindra Bank, praised Saha as a "seasoned financial services leader with deep experience across businesses, customer segments, and operating functions." Vaswani highlighted that since joining Kotak, Saha has worked closely with teams and demonstrated a clear understanding of the opportunities ahead.
What is the significance of this leadership change?
The appointment of Anup Kumar Saha as MD and CEO marks a planned leadership transition at Kotak Mahindra Bank. Vaswani’s term will conclude at the end of 2026, and Saha’s appointment ensures continuity in the bank’s management. The Reserve Bank of India approved this appointment on September 30, 2026, confirming Saha’s role for a three-year term starting January 1, 2027.
