Kotak Mahindra Bank Shares Rise 3% After RBI Approves Anup Saha’s Appointment As MD & CEO

Kotak Mahindra Bank shares rose more than 3% on Thursday after the Reserve Bank of India (RBI) approved the appointment of Anup Kumar Saha as the bank's new Managing Director (MD) and Chief Executive Officer (CEO).

The appointment was among the key stock-specific developments in the market on 1 October, with Kotak Mahindra Bank shares gaining even as the broader market remained under pressure.

At 11:25 AM, Kotak Mahindra Bank’s share price stood at ₹426.10 at the National Stock Exchange (NSE), up 2.19% from the previous session’s closing.

Anup Saha To Take Charge From January 2027

Anup Kumar Saha will take over as MD and CEO of Kotak Mahindra Bank from 1 January 2027.

The RBI's approval clears the regulatory requirement for his appointment. His tenure will run for three years from the date he assumes the position.

The leadership change comes as Kotak Mahindra Bank prepares for a new phase under its incoming chief executive.

Anup Saha’s Previous Roles

Before joining Kotak Mahindra Bank, Anup Saha spent nearly a decade at Bajaj Finance. He joined the company in October 2017 and held several senior roles over the years.

Saha started as President of Consumer Finance and held the post until March 2019. He then moved to the role of Deputy CEO, looking after Consumer, MSME, Marketing, Operations & Service and Digital Platforms. He remained in this role until March 2022.

In April 2022, Saha became Executive Director. He held the position until March 2024 and then took over as Deputy Managing Director in April 2024. He later became MD & CEO before resigning from Bajaj Finance in July 2025.

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