Kotak Mahindra Bank has announced the appointment of Mr. Anup Kumar Saha as Managing Director & CEO for a period of three years, effective January 1, 2027. This appointment, already approved by the Reserve Bank of India, is subject to shareholder approval. Additionally, Ms. Ashu Suyash has been re-appointed as an Independent Director for a second consecutive three-year term, commencing January 24, 2027.
Key Leadership Appointments at Kotak Mahindra Bank
Kotak Mahindra Bank has confirmed significant changes in its leadership structure. The Board of Directors, in a meeting held on October 24, 2026, approved the appointment of Mr. Anup Kumar Saha as the new Managing Director & CEO of the Bank. This appointment is for a term of three years, commencing from January 1, 2027, and is contingent upon the approval of the Bank’s shareholders. The Reserve Bank of India had previously approved this appointment via a letter dated September 30, 2026.
Re-appointment of Independent Director
In addition to the CEO appointment, the Board also approved the re-appointment of Ms. Ashu Suyash as an Independent Director. Ms. Suyash will serve a second consecutive term of three years, effective from January 24, 2027, to January 23, 2030. This re-appointment also requires the approval of the Bank’s members.
Background of Appointed Directors
Mr. Anup Kumar Saha is currently a Whole-time Director (Executive Director) of the Bank and brings over 32 years of experience in financial services. He joined the Bank in January 2026 and oversees Retail Bank operations, Government Business, Data Analytics, and Marketing. His prior experience includes significant roles at Bajaj Finance Limited, where he served as Managing Director & CEO.
Ms. Ashu Suyash is a seasoned leader with over three decades of experience in banking, investment management, and global information services. As the Founder & CEO of Colossa Ventures LLP, she has a distinguished career, including her tenure as Managing Director & CEO of CRISIL Limited and as the Country Head of Fidelity’s Indian Mutual Fund Business.
Confirmation of Director Eligibility
The Bank has confirmed that both Mr. Saha and Ms. Suyash are not debarred from holding or continuing to hold their respective offices of Director, pursuant to any order from SEBI or any other relevant authority, as per the circulars issued by BSE Limited and the National Stock Exchange of India Limited.
Source: BSE
