Mumbai, Oct. 1 -- The Reserve Bank of India (RBI) has approved the appointment of Anup Kumar Saha as the new managing director and chief executive officer of Kotak Mahindra Bank for a period of three years starting 1 January, the private sector bank said in a press release on Thursday.

Saha joined Kotak Mahindra Bank in January 2026 and, since March, has been overseeing the retail bank, data analytics and marketing functions. The bank said its board of directors will take further steps to formalize Saha's appointment and seek shareholders' approval.

Saha, currently a whole-time director at the bank, will succeed Ashok Vaswani, who has been serving as the bank's chief since January 2024. Vaswani was appointed to the position for a three-...