Kotak Mahindra Bank Appoints Ramesh Ganesh Iyer as Independent Director
Mumbai, 17 February 2026: Kotak Mahindra Bank Ltd. has announced a key change in its Board of Directors. Dr. Ashok Gulati, a distinguished Independent Director, will retire on 5 March 2026, completing his term.
In his place, the Bank has appointed Mr. Ramesh Ganesh Iyer as an Additional and Independent Director for a term of four years, effective 17 February 2026, subject to shareholder approval.
Mr. Iyer brings over four decades of experience in financial services, having played a pivotal role in Mahindra & Mahindra Financial Services Ltd. (MMFSL), where he served as Vice Chairman & Managing Director and later as President of Financial Services Sector & Member of the Group Executive Board of Mahindra & Mahindra Ltd. until his retirement in April 2024.
During his tenure at MMFSL, Mr. Iyer spearheaded rural and inclusive finance initiatives, expanding the company’s reach, assets, and customer base. He also led the establishment of subsidiaries in rural housing finance, insurance broking, and asset management, alongside forging international joint ventures.
His accomplishments have earned him prestigious accolades, including:
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Entrepreneur of the Year – Ernst & Young, 2013
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CNBC Leadership Award, 2016
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Business Today Best CEO (Financial Services – Mid-sized companies), 2014
Mr. Iyer holds a Commerce degree and a Doctor of Letters (D.Litt.), and currently serves on multiple boards of listed and unlisted companies. He is not related to any director of Kotak Mahindra Bank.
The Board Meeting was held from 6:30 p.m. to 6:50 p.m. IST on 17 February 2026. Details of this change are also available on the Bank’s website.