Nature of change: Appointment of Mr. Anup Kumar Saha (DIN: 07640220) as Managing Director & CEO of the Bank.
Effective date and tenure: The appointment is for a period of three years, with effect from January 1, 2027, subject to the approval of the members of the Bank.
Previous role: Mr. Saha is currently a Whole-time Director (Executive Director) of the Bank.
Regulatory approval: The appointment was approved by the Reserve Bank of India vide its letter dated September 30, 2026, as intimated by the Bank to the stock exchanges on October 1, 2026.
Brief profile: Mr. Anup Kumar Saha has over 32 years of professional experience, of which 25 years has been in financial services across banking and non-banking financial institutions. He joined the Bank in January 2026. In his role as Whole-time Director (Executive Director) of the Bank since March 2026, he oversees the entire Retail Bank, Government Business, Data Analytics and Marketing function. Prior to joining the Bank, Mr. Saha was associated with Bajaj Finance Limited (BFL) from October 2017 to January 2026 where he progressively held senior roles, including Managing Director & CEO from April 2025 until his resignation in July 2025. Prior to BFL, Mr. Saha spent 14 years at ICICI Bank Limited (May 2003–June 2017) where he served in senior roles leading Retail Secured Assets, Business Intelligence, Retail and Rural Collections, Credit Cards and Retail Structured Finance. He also served as a Nominee Director of ICICI Bank on the boards of TransUnion CIBIL Limited and ICICI Home Finance Limited. Earlier in his career, Mr. Saha worked with GE Capital (1999–2003) and Bharat Heavy Electricals Limited (1991–1995).
Qualifications: Mr. Saha has a B. Tech degree in Engineering from IIT Kharagpur and has also completed his MBA from IIM Lucknow.
Relationship with other directors: Not related to any Director of the Bank.
Re-appointment of Independent Director
Nature of change: Re-appointment of Ms. Ashu Suyash (DIN: 00494515) as an Independent Director of the Bank.
Effective date and tenure: The re-appointment is for a second consecutive term of three consecutive years, with effect from January 24, 2027 to January 23, 2030 (both days inclusive), subject to the approval of the members of the Bank.
Brief profile: Ms. Ashu Suyash is a successful leader with over three decades of experience across banking, investment management and the global information services sectors. As the Founder & CEO of Colossa Ventures LLP, she leverages her extensive expertise to foster innovative startups, drive growth and sponsor diversity within the venture capital ecosystem. Prior to founding Colossa Ventures, Ms. Suyash was the Managing Director & CEO of CRISIL Limited and a member of the Global Operating Committee of S&P Global Inc. Her previous roles were as CEO of L&T Investment Management Limited and as the Country Head and Managing Director of Fidelity's Indian Mutual Fund Business. She started her career with Citibank India, where she held several key positions across their corporate and investment banking group. Beyond her executive roles, Ms. Suyash is on the Advisory Board of Aseema Charitable Trust and CII's Corporate Governance Council. She is a Chartered Accountant from the Institute of Chartered Accountants of India and holds a Bachelor's Degree in Commerce from the University of Mumbai.
Relationship with other directors: Not related to any Director of the Bank.
Compliance Disclosure
The Bank confirms that both Mr. Saha and Ms. Suyash are not debarred from holding/continuing to hold the office of a Director, pursuant to any order of SEBI or any other such authority, as required by circular nos. LIST/COMP/14/2018-19 and NSE/CML/2018/24, both dated June 20, 2018.
Board Meeting Details
The Board Meeting was held on October 24, 2026.
The meeting commenced at 10:30 a.m. IST and concluded at 3:25 p.m. IST.
