RBI approves Anup Bagchi as HDFC Bank MD/CEO and Anup Kumar Saha as Kotak Mahindra Bank MD/CEO
The Reserve Bank of India approved the appointment of Anup Bagchi as managing director and chief executive officer of HDFC Bank for a three‑year term starting in late October 2026. It also approved Anup Kumar Saha as managing director and chief executive officer of Kotak Mahindra Bank for a three‑year term beginning 1 January 2027. Bagchi will succeed Sashidhar Jagdishan, while Saha will replace Ashok Vaswani. Both appointments are subject to the respective banks' shareholder approvals where required.
Why it matters
The banks will have new chief executives for the next three years, which may shape their strategic direction and operational execution.
Key facts
- 1The RBI approved Anup Bagchi as MD and CEO of HDFC Bank for three years starting 27 October 2026. deccanchronicle.com
- 2Bagchi's appointment is subject to shareholder approval. deccanchronicle.com
- 3Bagchi will serve until 26 October 2029. deccanchronicle.com
- 4The RBI approved Anup Kumar Saha as MD and CEO of Kotak Mahindra Bank for three years effective 1 January 2027. deccanchronicle.com
- 5Saha will replace Ashok Vaswani, whose term ends 31 December 2026. deccanchronicle.com
- 6Bagchi previously served as MD and CEO of ICICI Prudential Life Insurance. deccanchronicle.com
Open questions
- Effective start date for Bagchi differs between sources (27 Oct 2026 vs 26 Oct 2026).
Summary written by AlphAI from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.