New Delhi, Oct. 2 -- The Reserve Bank of India (RBI) has approved the appointment of Anup Kumar Saha as the new managing director and CEO of Kotak Mahindra Bank. Saha will lead the bank for a term of three years, effective 1 January 2027. He will take over from Ashok Vaswani.

Saha, who joined Kotak Mahindra Bank in January 2026, is currently a whole-time director of the bank. He has over 32 years of experience, including 25 years in financial services across banking and non-banking financial institutions.

The development is expected to impact the stock positively in the long term as Saha's elevation as Vaswani's successor was largely expected after he was appointed an Executive Director of the bank.

As brokerage firm PL Capital highlig...