In a significant leadership move within India's financial sector, Kotak Mahindra Bank has announced the appointment of Anup Kumar Saha, the former Managing Director of Bajaj Finance, as a Whole-time Director. The appointment, made public on January 12, 2026, is pending necessary regulatory clearances.
Until the formal approvals are secured, Saha will function as the Whole-time Director (Designate) and has already become a part of the bank's senior management team from the announcement date. The bank stated that his induction aims to bolster its leadership bench and drive forward its strategic goals.
Who is Anup Kumar Saha?
Anup Kumar Saha brings a wealth of experience from two of India's leading financial institutions. He is best known for his eight-year tenure as the Managing Director of Bajaj Finance, where he is credited with playing a pivotal role in scaling the company into a dominant and highly profitable Non-Banking Financial Company (NBFC) in the consumer finance space.
Under his leadership, Bajaj Finance significantly expanded its customer base to 100 million and diversified its product offerings. Prior to his stint at Bajaj Finance, Saha spent 14 years at ICICI Bank in various senior roles, building deep expertise in consumer banking, retail operations, and digital transformation.
Strengthening Kotak's Leadership Team
The bank's leadership has expressed strong optimism about Saha's appointment. CS Rajan, Chairman of the Board at Kotak Mahindra Bank, welcomed Saha, highlighting his proven track record in business scaling and digital innovation.
Ashok Vaswani, MD & CEO of the bank, emphasized that Saha's deep understanding of retail finance and data-driven growth strategies will be crucial in accelerating the bank's plans and delivering greater value to customers.
What Will Be His Role at Kotak?
At Kotak Mahindra Bank, Anup Kumar Saha will have a broad mandate. He will be responsible for overseeing Consumer Banking, Marketing, and Data Analytics functions. His primary focus will be to reinforce the bank's market position by driving customer-centric transformation, fostering digital innovation, and implementing data-led strategies.
In response to his appointment, Saha stated that he is excited and honored to join Kotak Mahindra Bank and looks forward to building on the bank's strong foundation, driving innovation, and creating value for all stakeholders.
This high-profile move marks a new chapter for both the executive and the bank, as Kotak Mahindra Bank continues to strengthen its competitive edge in India's rapidly evolving financial services landscape.
