RBI Approves Anup Kumar Saha As Kotak Mahindra Bank MD & CEO For Three-Year Term From January 2027

Exam-focused facts from the 1 October 2026 current affairs briefing.

Key facts

The Reserve Bank of India (RBI) approved the appointment of Anup Kumar Saha as the new MD & CEO of Kotak Mahindra Bank for a three-year period, effective January 1, 2027, under Section 35B of the Banking Regulation Act, 1949.
The bank received the RBI approval letter dated September 30, 2026, and disclosed it in a regulatory filing on October 1, 2026.
Saha is currently a whole-time director (executive director) at Kotak Mahindra Bank, which he joined in January 2026, and has over 32 years of professional experience, including 25 years in banking and financial services.
Before Kotak, Saha was MD & CEO of Bajaj Finance from April 2025 until his resignation in July 2025, and earlier spent 14 years at ICICI Bank (May 2003 to June 2017).
Saha holds a B.Tech from IIT Kharagpur and an MBA from IIM Lucknow.
Saha will take over from Ashok Vaswani, who was appointed Kotak Mahindra Bank's MD & CEO in January 2024 for a three-year term.
The Kotak Mahindra Group had 5,916 branches and a consolidated balance sheet of ₹10.1 trillion as of June 30, 2026.