Kotak Mahindra Bank Share Price Surges Over 3%; Gets RBI Nod to Appoint Anup Kumar Saha as New MD & CEO

Anup Kumar Saha is set to become the Managing Director and Chief Executive Officer of Kotak Mahindra Bank from January 1, 2027, after the Reserve Bank of India approved his appointment for three years. 

As per an exchange filing dated October 1, 2026, the RBI approval was issued on September 30, 2026, under Section 35B of the Banking Regulation Act, 1949.  

Saha’s Role at Kotak Mahindra Bank 

Saha joined Kotak Mahindra Bank in January 2026. He has been a Whole-time Director since March and currently looks after the Retail Bank, Government Business, Data Analytics, and Marketing functions. 

His appointment as MD & CEO still requires the remaining formalities from the bank. The Board will also seek members’ approval before the appointment is completed.  

More Than Three Decades of Experience 

Saha brings over 32 years of work experience, including 25 years in banking and other financial services. Before moving to Kotak, he spent more than eight years at Bajaj Finance in different senior roles. 

His positions at Bajaj Finance included President–Consumer Finance, Deputy CEO, Executive Director and Deputy Managing Director. He became Managing Director & CEO in April 2025 and resigned from the position in July 2025.  

Earlier Stint at ICICI Bank 

Before Bajaj Finance, Saha spent 14 years with ICICI Bank between May 2003 and June 2017. His work there covered retail secured assets, business intelligence, retail and rural collections, credit cards and retail structured finance. 

He had earlier worked at GE Capital between 1999 and 2003, handling credit cards, sales, and analytics. His first listed corporate role was with Bharat Heavy Electricals Limited in production engineering.  

Education and Bank Profile 

Saha holds a B.Tech in Engineering from IIT Kharagpur and an MBA from IIM Lucknow.  

As of June 30, 2026, the Kotak Mahindra Group had 5,916 branches and a consolidated balance sheet of ₹10.1 trillion.  

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Kotak Mahindra Bank Share Price Performance  

As of October 1, 2026, 11:00 am, Kotak Mahindra Bank share price was trading at ₹432.20, a 3.65% increase from the previous closing price. 

Conclusion 

Saha’s three-year term as MD & CEO is scheduled to start on January 1, 2027, once the bank completes the required appointment process and obtains members’ approval. 

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