Anup Kumar Saha’s journey to Kotak Mahindra Bank’s top job was not a straight climb. It included a sudden exit, a missed opportunity and a fresh start.
The path to the corner office is rarely as straight as it looks from the outside. Anup Kumar Saha’s career is a good example.
The Reserve Bank of India (RBI) has approved Saha as the next chief executive of Kotak Mahindra Bank. The approval came late on September 30, with the bank confirming it in a statement on Thursday.
Saha, 56, will serve a three-year term beginning January 1, 2027. The bank’s board will now take the necessary steps to formalise his appointment and seek shareholders’ approval.
His journey to the top has included long years at one of India’s biggest private banks, a major move into consumer finance, an unexpected exit and a missed opportunity at another large bank. What stands out is not a smooth rise, but the ability to keep moving after setbacks.
14 Years of Grounding at ICICI Bank
Saha spent 14 years at ICICI Bank before moving into the consumer finance business.
Long experience at a large financial institution can provide a strong understanding of how banking works from the inside. It also exposes a professional to customers, risk management, business decisions and the operational challenges that come with running a large organisation.
That experience became the foundation for the roles that followed.
A New Field at Bajaj Finance
In 2017, Saha moved from ICICI Bank to Bajaj Finance, entering a different part of the financial services industry.
Consumer finance operates differently from traditional banking. It involves a large customer base, high transaction volumes and lending for everyday requirements. Saha eventually rose to become managing director of Bajaj Finance.
The move also showed a willingness to leave a familiar institution after 14 years and take on a different business environment.
An Unexpected Exit
In June 2025, Saha stepped down from Bajaj Finance only three months after taking over as managing director.
The development came as a surprise to many in the financial services industry. For any senior professional, an unexpected career change can raise questions about what comes next.
But career setbacks rarely tell the whole story. What matters is what a professional does after them.
The IndusInd Bank Opportunity That Did Not Work Out
Saha was subsequently reported to be among the contenders for the top job at IndusInd Bank.
The position, however, went to Rajiv Anand, a veteran banker from Axis Bank.
For senior executives, missing out on a coveted position can be difficult. But the process also reflects an important reality of leadership appointments in India's private banking sector. The RBI plays a crucial role in approving the appointment of chief executives, meaning that being a strong contender does not guarantee the final selection.
For Saha, it was another turn in a career that was already moving in an unexpected direction.
Starting Again at Kotak Mahindra Bank
Rather than waiting for the perfect opportunity, Saha joined Kotak Mahindra Bank in January 2026.
By March, he was overseeing the bank’s retail banking, data analytics and marketing functions. The combination brought together three areas that are increasingly important to modern financial services.
Retail banking puts the institution directly in touch with customers. Data analytics helps it understand customer behaviour and business trends. Marketing connects products and services with those customers.
Working across these functions gave Saha a broad view of the business at Kotak.
Just nine months after joining the bank, he has now been approved for its top executive position.
The appointment means that an executive who missed one major opportunity has reached another of India's most important banking leadership roles within a relatively short period.
What Professionals Can Learn From Saha’s Career
1. Build a strong professional base
Saha’s 14 years at ICICI Bank gave him substantial experience in banking before he moved into another segment of financial services.
2. Do not become too comfortable with one career path
His move from ICICI Bank to Bajaj Finance expanded his experience beyond traditional banking and eventually helped shape his leadership profile.
3. A setback does not have to become a full stop
His departure from Bajaj Finance and the missed opportunity at IndusInd Bank could have changed the direction of his career. Instead, another opportunity followed.
4. Keep long-term ambitions alive
Saha’s career suggests that reaching a senior leadership position can take several attempts. A missed opportunity at one institution does not necessarily close the door elsewhere.
5. Understand customers and data
Modern banking is increasingly shaped by customer behaviour, technology and data. Saha’s responsibilities at Kotak brought these areas together before his elevation to the top job.
The path to the corner office is rarely as straight as it looks from the outside. Anup Kumar Saha’s career is a good example.
The Reserve Bank of India (RBI) has approved Saha as the next chief executive of Kotak Mahindra Bank. The approval came late on September 30, with the bank confirming it in a statement on Thursday.
Saha, 56, will serve a three-year term beginning January 1, 2027. The bank’s board will now take the necessary steps to formalise his appointment and seek shareholders’ approval.
His journey to the top has included long years at one of India’s biggest private banks, a major move into consumer finance, an unexpected exit and a missed opportunity at another large bank. What stands out is not a smooth rise, but the ability to keep moving after setbacks.
14 Years of Grounding at ICICI Bank
Saha spent 14 years at ICICI Bank before moving into the consumer finance business.
Long experience at a large financial institution can provide a strong understanding of how banking works from the inside. It also exposes a professional to customers, risk management, business decisions and the operational challenges that come with running a large organisation.
That experience became the foundation for the roles that followed.
A New Field at Bajaj Finance
In 2017, Saha moved from ICICI Bank to Bajaj Finance, entering a different part of the financial services industry.
Consumer finance operates differently from traditional banking. It involves a large customer base, high transaction volumes and lending for everyday requirements. Saha eventually rose to become managing director of Bajaj Finance.
The move also showed a willingness to leave a familiar institution after 14 years and take on a different business environment.
An Unexpected Exit
In June 2025, Saha stepped down from Bajaj Finance only three months after taking over as managing director.
The development came as a surprise to many in the financial services industry. For any senior professional, an unexpected career change can raise questions about what comes next.
But career setbacks rarely tell the whole story. What matters is what a professional does after them.
The IndusInd Bank Opportunity That Did Not Work Out
Saha was subsequently reported to be among the contenders for the top job at IndusInd Bank.
The position, however, went to Rajiv Anand, a veteran banker from Axis Bank.
For senior executives, missing out on a coveted position can be difficult. But the process also reflects an important reality of leadership appointments in India's private banking sector. The RBI plays a crucial role in approving the appointment of chief executives, meaning that being a strong contender does not guarantee the final selection.
For Saha, it was another turn in a career that was already moving in an unexpected direction.
Starting Again at Kotak Mahindra Bank
Rather than waiting for the perfect opportunity, Saha joined Kotak Mahindra Bank in January 2026.
By March, he was overseeing the bank’s retail banking, data analytics and marketing functions. The combination brought together three areas that are increasingly important to modern financial services.
Retail banking puts the institution directly in touch with customers. Data analytics helps it understand customer behaviour and business trends. Marketing connects products and services with those customers.
Working across these functions gave Saha a broad view of the business at Kotak.
Just nine months after joining the bank, he has now been approved for its top executive position.
The appointment means that an executive who missed one major opportunity has reached another of India's most important banking leadership roles within a relatively short period.
What Professionals Can Learn From Saha’s Career
1. Build a strong professional base
Saha’s 14 years at ICICI Bank gave him substantial experience in banking before he moved into another segment of financial services.
2. Do not become too comfortable with one career path
His move from ICICI Bank to Bajaj Finance expanded his experience beyond traditional banking and eventually helped shape his leadership profile.
3. A setback does not have to become a full stop
His departure from Bajaj Finance and the missed opportunity at IndusInd Bank could have changed the direction of his career. Instead, another opportunity followed.
4. Keep long-term ambitions alive
Saha’s career suggests that reaching a senior leadership position can take several attempts. A missed opportunity at one institution does not necessarily close the door elsewhere.
5. Understand customers and data
Modern banking is increasingly shaped by customer behaviour, technology and data. Saha’s responsibilities at Kotak brought these areas together before his elevation to the top job.
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