Who Is Anup Kumar Saha? Kotak Mahindra Bank’s New CEO, Career, Education and Experience

Kotak Mahindra Bank has chosen Anup Kumar Saha as its next Managing Director and Chief Executive Officer, ending months of attention around one of India’s biggest private-bank succession decisions. The Reserve Bank of India approved the appointment on September 30, 2026. Saha will take charge on January 1, 2027, for a three-year term, succeeding Ashok Vaswani, whose tenure ends on December 31, 2026.

Saha is not arriving from outside. He joined Kotak in January 2026 and became a full-time Director in March. He currently oversees Retail Banking, Government Business, Data Analytics and Marketing. Reuters reported that Kotak shares rose about 1.4% following the announcement, showing how closely investors were tracking the succession.

Key Highlights

• Anup Kumar Saha will become Kotak Mahindra Bank MD and CEO from January 1, 2027.
• His approved tenure is three years, subject to completion of the bank’s formal appointment process and shareholder approval.
• Saha has more than 32 years of professional experience, including 25 years in financial services.
• He previously worked at Bajaj Finance, ICICI Bank, GE Capital and BHEL.
• He is an IIT Kharagpur engineering graduate and holds an MBA from IIM Lucknow.

Who Is Anup Kumar Saha And Why Has Kotak Chosen Him?

Saha’s career is centred on retail finance, consumer lending, data-led decision-making and large banking operations. Kotak Mahindra Bank’s official leadership profile says his current mandate spans consumer banking, marketing and data analytics, with emphasis on customer-led transformation and digital innovation.

That background fits the scale of Kotak. In Q1 FY27, the bank reported standalone deposits of ₹5.73 lakh crore and customer assets of ₹5.71 lakh crore. Consolidated customer assets stood at about ₹6.46 lakh crore, while reported profit after tax was ₹5,480 crore, according to Kotak’s latest investor highlights.

His appointment also followed a regulatory selection process. Reuters reported that Kotak had submitted Saha and fellow Executive Director Paritosh Kashyap as candidates to the RBI. The regulator approved Saha, while the board now has to complete the remaining corporate formalities.

Anup Kumar Saha Career From BHEL To Bajaj Finance And Kotak

Saha’s route to the CEO office did not begin in banking. He worked at Bharat Heavy Electricals Limited in production engineering from 1991 to 1995, followed by a brief consumer-durables stint. He later moved to GE Capital, where he handled credit-card sales and analytics between 1999 and 2003.

At ICICI Bank, Saha spent 14 years and also served as the bank’s nominee director on the boards of TransUnion CIBIL and ICICI Home Finance. His Bajaj Finance period was another major chapter. Kotak’s January 2026 leadership announcement said his years there covered business transformation and digital innovation while the customer base expanded beyond 100 million.

Anup Kumar Saha Education And Experience Before The CEO Role

Saha holds a B.Tech in Engineering from IIT Kharagpur and an MBA from IIM Lucknow. Kotak’s official profile lists more than 32 years of professional experience, including roughly 25 years across banking and non-banking financial institutions.

At ICICI Bank, his responsibilities covered retail secured assets, business intelligence, retail and rural collections, credit cards and retail structured finance. At Bajaj Finance, his remit later widened across consumer and MSME businesses, marketing, operations, service and digital platforms.

Since joining Kotak, he has already been working inside businesses he will eventually lead. January 1, therefore, changes his designation and authority rather than introducing him to the organisation for the first time.

What Anup Kumar Saha’s Appointment Means For Kotak Mahindra Bank

Saha takes over while Kotak is pushing growth across deposits, retail banking and digital services. Reuters identified deposit growth, return on equity, talent retention and quicker decision-making as areas investors will be watching after the leadership change.

Three dates frame the handover:

1. September 30, 2026: RBI communicated its approval.
2. December 31, 2026: Ashok Vaswani’s current term ends.
3. January 1, 2027: Saha is scheduled to begin his three-year MD and CEO tenure.

The transition is already underway rather than beginning overnight.

Follow Kotak Mahindra Bank’s official investor updates as the board completes the appointment process and Saha moves towards taking charge in January 2027.

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