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Informist, Thursday, Oct. 1, 2026

--RBI approves appointment of Anup Kumar Saha as Kotak Mahindra Bk MD, CEO

--Kotak Mahindra Bk: Anup Saha to take over as MD, CEO from Jan 1 for 3 yrs

NEW DELHI – Kotak Mahindra Bank Thursday said the Reserve Bank of India has approved the appointment of Anup Kumar Saha as its managing director and chief executive officer for three years. Saha's appointment is effective from Jan. 1, the lender said in an exchange filing.

"The board of directors of the bank will initiate further steps in due course, to formalise the aforesaid appointment and also seek members' approval for the same," the filing said. Saha will succeed Ashok Vaswani, who informed the board that he does not wish to be reappointed in June. Vaswani's term will be completed on Dec. 31.

Saha, who has 25 years of experience in financial services sector, joined the bank in January. He has been working as a whole-time director since March and overseeing the entire retail bank, government business, data analytics and marketing function, it added.

For the June quarter, the bank posted a net profit of INR 41.23 billion and total income of INR 178.16 billion. Wednesday, shares of the bank ended at INR 417 on the National Stock Exchange, up 2.7% from the previous close.  End

Reported by Shweta

Edited by Akul Nishant Akhoury

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