Overview
- Kotak’s board announced Anup Kumar Saha as the prospective managing director and chief executive and said it will take steps to formalise the appointment and seek members’ approval.
- Saha joined Kotak as executive director in January 2026 and has run the retail bank, data analytics and marketing functions since March 2026, positioning him as an internal continuity choice.
- He brings more than three decades of experience, including senior leadership at Bajaj Finance and 14 years at ICICI Bank, and holds a B.Tech from IIT Kharagpur and an MBA from IIM Lucknow.
- The nomination won public endorsements from outgoing CEO Ashok Vaswani and chairman C.S. Rajan, and the stock reacted positively with an approximate 4% rise on the news.
- The appointment still requires shareholders’ approval and any regulatory clearances, and it follows Kotak’s recent remediation work after RBI actions that included an embargo on new credit cards and online onboarding and fines tied to IT and compliance issues.