Kotak Mahindra Bank appoints Anup Kumar Saha as whole-time director

He will oversee consumer banking, marketing and data analytics at the bank

Kotak Mahindra Bank on Monday announced the appointment of former Bajaj Finance MD Anup Kumar Saha as whole-time director at the bank with immediate effect. The appointment, however, is subject to regulatory approvals.

 

Saha will oversee consumer banking, marketing, and data analytics functions, and drive customer-centric transformation, digital innovation, and data-led strategies, the bank said in a statement.

 

The private lender has three whole time directors on its board: Ashok Vaswani, who is the managing director (MD) and chief executive officer (CEO) of the bank; Jaideep Hansraj and Paritosh Kashyap who are executive directors at the bank.

 

Saha will be the fourth whole-time director at the bank.

 

 

Before taking up the current role, Saha was MD at NBFC Bajaj Finance. He quit in July 2025 -- four months after taking over the responsibility -- citing personal reasons. He was deputy MD at the firm before succeeding Rajeev Jain as MD of Bajaj Finance on April 1, 2025.

 

Saha joined Bajaj Finance in 2017, and over the next eight years, he played a pivotal role in transforming the company into one of India’s leading and most profitable NBFCs in consumer finance.

 

Saha led business transformation, digital innovation, and customer-focused strategies, helping expand the customer base to 100 million and diversifying the product portfolio.

 

Before Bajaj Finance, Saha spent 14 years at ICICI Bank in senior leadership roles, building deep expertise in consumer and retail banking, data analytics, and digital transformation.

 

Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, said the appointment underscores Kotak’s commitment to building a market-leading financial services business and a strong bench of experienced leaders.

 

“His extensive understanding of retail finance, data-driven growth, and innovation will help us accelerate our strategy and deliver even greater value to our customers,” Vaswani said.

 

Saha, meanwhile, said, “I look forward to working with the leadership team to build on this strong foundation, drive innovation, deepen customer relationships, and create value for all stakeholders.” 

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(Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd)