MUMBAI, Oct. 2 -- HDFC Bank and Kotak Mahindra Bank are set for new chief executives after the RBI approved the appointments of Anup Bagchi (in pic) and Anup Kumar Saha, respectively, for three-year terms. Bagchi, 56, was widely seen as the top contender for the post, alongside internal candidate Kaizad M Bharucha. For Bagchi, whose term begins on October 27, the appointment marks a return to banking after three years in insurance. The appointment is also the second instance in recent years of an insurance executive being brought in to lead a bank. In 2019, Amitabh Chaudhry joined Axis Bank as chief executive from HDFC Life Insurance Company. Saha, whose term will begin on January 27, joined Kotak nine months ago and has been overseeing its retail bank, data analytics and marketing functions. The bank's board of directors will take further steps to formalise Saha's appointment and seek shareholders' approval.P14...