Kotak Mahindra Bank Announces Board Changes; Ramesh Ganesh Iyer Appointed Independent Director

Kotak Mahindra Bank Limited has announced key changes to its Board of Directors following a meeting held on February 17, 2026. 

The board accepted the retirement request of Ashok Gulati, who will step down as an Independent Director upon completion of his term ending March 5, 2026. Consequently, he will cease to be a director of the bank from March 6, 2026.

At the same time, the board approved the appointment of Ramesh Ganesh Iyer as an Additional Director and Independent Director for a four-year term starting February 17, 2026, subject to shareholder approval.

Profile of the Incoming Director

Mr. Iyer brings over four decades of experience within the Mahindra Group, having played a significant role in shaping its financial services ecosystem. He was instrumental in building Mahindra & Mahindra Financial Services Limited into one of India’s leading rural finance institutions.

In his most recent role, he served as Vice Chairman and Managing Director of MMFSL and also held leadership responsibilities at Mahindra and Mahindra Limited until his retirement in April 2024. Under his leadership, the institution expanded its rural lending operations and diversified into housing finance, insurance broking, and asset management.

Industry Recognition and Experience

Mr. Iyer’s contributions to financial services have earned industry recognition, including Entrepreneur of the Year honors from Ernst & Young in 2013. He also received leadership recognition from CNBC and was named Best CEO in the mid-sized financial services category by Business Today. He currently serves on multiple corporate boards and advises institutions in financial services and technology sectors.

Kotak Mahindra Bank Share Price Performance

On February 18, 2026, Kotak Mahindra Bank share price (NSE: KOTAKBANK) opened at ₹425.70, up from its previous close of ₹424.45. At 11:24 AM, the share price of Kotak Mahindra Bank was trading at ₹423, down by 0.34% on the NSE.

Also Read: Best PSU Stocks in India in February 2026!

Conclusion

The board transition reflects Kotak Mahindra Bank’s continued emphasis on strong governance and experienced leadership. With Mr. Iyer’s appointment and Dr. Gulati’s successful completion of tenure, the bank aims to maintain strategic continuity while strengthening its leadership framework for future growth.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a private recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.