Kotak Bank has successfully completed the appointment process for Mr. Anup Kumar Saha as Whole-Time Director, following RBI approval received on March 6, 2026. The appointment became effective immediately after regulatory clearance, marking the completion of a process that began with shareholder approval through postal ballot voting concluded on March 4, 2026.

RBI Approval and Effective Appointment

The Reserve Bank of India approved Mr. Saha's appointment through its letter dated March 6, 2026, received at 6:09 PM IST. Following this regulatory approval, Mr. Saha officially assumed the role of Whole-Time Director (designated as Executive Director) and Key Managerial Personnel of the bank. As a result of this appointment, he ceased to be a Senior Management Personnel of the bank.

Postal Ballot Results Overview

Prior to RBI approval, shareholders had overwhelmingly approved Mr. Saha's appointment through postal ballot voting. The scrutinizer's report, submitted by Mr. Alwyn D'Souza (FCS 5559), confirmed that the resolution contained in the postal ballot notice dated February 2, 2026, was approved with requisite majority through NSDL e-voting platform.

Executive Profile and Experience

Mr. Anup Kumar Saha brings over 32 years of professional experience, with 25 years specifically in financial services across banking and non-banking financial institutions. As Whole-Time Director (Designate) and Senior Management Personnel, he had been overseeing Consumer Banking, Marketing and Data Analytics functions, anchoring the bank's customer-first agenda and accelerating digital innovation.

Prior to joining Kotak Bank, Mr. Saha was associated with Bajaj Finance Limited from October 2017 to January 2026, where he held progressively senior roles including President – Consumer Finance, Deputy CEO, Executive Director, Deputy Managing Director, and finally Managing Director & CEO from April 2025 until his resignation in July 2025.

Debt Securities Approval

Alongside the executive appointment, shareholders also approved the special resolution authorizing issuance of unsecured, redeemable, non-convertible debentures, bonds, and other debt securities on private placement basis during FY 2026-27, receiving near-unanimous approval.

Regulatory Compliance

The entire appointment process was conducted in accordance with Section 110 of the Companies Act, 2013, Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The bank has made the intimation available on its website for stakeholder access, demonstrating commitment to transparent corporate governance practices.

Kotak bank has informed stock exchanges about its upcoming participation in a virtual investor meeting organized by Morgan Stanley. The bank's representatives will attend the Morgan Stanley Virtual India Financials Seminar on March 16, 2026.

Regulatory Disclosure Details

The bank made this disclosure on March 06, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform exchanges about material events and investor meetings.

Stock Exchange Communication

The disclosure was submitted to both major Indian stock exchanges where Kotak Mahindra Bank Limited securities are listed. The communication was signed by Avan Doomasia, Company Secretary, and digitally authenticated on March 06, 2026.

Investor Engagement Initiative

This virtual seminar represents part of the bank's regular engagement with institutional investors and analysts. Such meetings typically provide platforms for management to discuss business performance, strategic initiatives, and respond to investor queries about the bank's operations and outlook.