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Kotak Mahindra Bank has recommended two internal candidates

ICICIdirect Research 01 Sep 2026 DISCLAIMER

News: As per media sources, Kotak Mahindra Bank has recommended two internal candidates—Executive Directors Anup Saha and Paritosh Kashyap—to the RBI for the MD & CEO position, as incumbent Ashok Vaswani will not seek reappointment after his term ends on December 31, 2026. Saha, who joined Kotak in January 2026 from Bajaj Finance, oversees the retail banking business, while Kashyap is a long-serving Kotak executive and heads wholesale banking. The final appointment remains subject to RBI approval.

View: The recommendation of two internal candidates provides greater visibility on the succession process well ahead of the incumbent CEO’s exit. An internal appointment should support continuity in strategy and execution, while timely RBI approval would help minimise leadership uncertainty. However, the eventual choice of candidate and subsequent strategic priorities remain key monitorables.

Impact: Neutral

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