Anup Kumar Saha to Become Kotak Mahindra Bank MD & CEO from January 2027

Reserve Bank of India has granted approval for the appointment of Anup Kumar Saha as the Managing Director and Chief Executive Officer of Kotak Mahindra Bank for a tenure of three years, which shall commence from January 1, 2027. Saha will replace Ashok Vaswani whose tenure will end on December 31, 2026. The appointment is however subject to completion of formalities by the bank, including approval of the members.

Anup Kumar Saha is a Whole-time Director (Executive Director) of Kotak Mahindra Bank. He has over 32 years of work experience, out of which he has 25 years in banking and non-banking financial services.

When Will Anup Kumar Saha Become MD & CEO?

Anup Kumar Saha will become MD & CEO of Kotak Mahindra Bank on January 1, 2027, for a three-year tenure. Till December 31, 2026, Ashok Vaswani will remain as the MD & CEO of the bank.

The RBI has notified its approval for the appointment to Kotak Mahindra Bank in a letter dated September 30, 2026, under Section 35B of the Banking Regulation Act, 1949.

Who is Anup Kumar Saha?

Anup Kumar Saha is an experienced executive within the financial services sector, having worked in the industry for over three decades.

His core competency lies in the areas of Retail Banking, Consumer Finance, Digitalization, Marketing, Data Analytics and other financial services.

As far as his current responsibilities at Kotak Mahindra Bank are concerned, Saha looks after Consumer Banking, Marketing and Data Analytics. He is also part of the bank’s senior management team.

When Did Anup Kumar Saha Join Kotak Mahindra Bank?

Anup Kumar Saha joined Kotak Mahindra Bank in January 2026. Later, he was designated as Whole-time Director, and Whole-time Director (Executive Director) effective March 6, 2026, after obtaining the requisite regulatory approvals.

Prior to his appointment as the MD & CEO, Saha had been overseeing vital departments like Consumer Banking, Marketing and Data Analytics.

What Are The Educational Qualifications Of Anup Kumar Saha?

Anup Kumar Saha has a B.Tech degree in Engineering from IIT Kharagpur and an MBA from IIM Lucknow.

His educational qualifications include both engineering and management studies that were followed by a long professional career in banking, consumer finance, and financial services businesses.

What Is The Professional Career Background Of Anup Kumar Saha?

Anup Kumar Saha commenced his professional career with Bharat Heavy Electricals Limited (BHEL) as a production engineer from 1991 to 1995. Subsequently, he joined GE Capital from 1999 to 2003 for working in areas like credit card, sales, and analytics.

ICICI Bank remained Saha’s employer for around 14 years from May 2003 to June 2017. During this period, he occupied senior positions in areas related to retail secured assets, business intelligence, retail and rural collection, credit cards, and retail structured finance. He was also the nominee director for TransUnion CIBIL and ICICI Home Finance.

Anup Kumar Saha’s Position at Bajaj Finance

Anup Kumar Saha was appointed at Bajaj Finance in October 2017. His positions were those of President-Consumer Finance, Deputy CEO, Executive Director & Deputy Managing Director and finally Managing Director & CEO starting from April 2025.

Saha resigned from his position in Bajaj Finance in July 2025 and stayed with the company till January 2026. The responsibilities he shouldered as an executive included consumer finance, MSME, marketing, operations, services and digital channels.

Who will Succeed Anup Kumar Saha?

Anup Kumar Saha will succeed Ashok Vaswani as the Managing Director & Chief Executive Officer of Kotak Mahindra Bank.

Ashok Vaswani was appointed as the MD & CEO of Kotak Mahindra Bank in January 2024 for a tenure of three years. His current term will come to an end by December 31, 2026.