Kotak Mahindra Bank has made changes to its Board of Directors. The bank informed the stock exchanges that during its board meeting on February 17, 2026, it accepted the retirement request of Dr. Ashok Gulati, who will step down as an Independent Director after completing his term on March 5, 2026.
In the same meeting, the bank appointed Ramesh Ganesh Iyer as a new Independent Director. His appointment started from February 17, 2026, and will be for four years, but it still needs approval from the bank’s shareholders. The bank also confirmed that there are no restrictions or bans from SEBI or any other authority against him holding this position.
Ramesh Ganesh Iyer Professional Experience:
Ramesh Ganesh Iyer has more than 40 years of experience with the Mahindra Group. He is well known for helping build Mahindra & Mahindra Financial Services Limited into one of India’s leading companies that provides financial services, especially in rural areas.
He played a key role at Mahindra & Mahindra Financial Services Ltd. (MMFSL) as Vice Chairman and Managing Director. Later, he served as President – Financial Services Sector and as a member of the Group Executive Board at Mahindra & Mahindra Ltd. He retired from these positions in April 2024.
At MMFSL, he focused on financial inclusion, especially providing services to rural communities. Under his leadership, the company expanded its scale, grew assets, and reached more customers. He helped launch new businesses in rural housing finance, insurance broking, and asset management. He also helped the company form partnerships with international companies.
Ramesh Ganesh Iyer Achievements:
Because of his strong leadership and achievements, Mr. Iyer received several well-known awards, including Entrepreneur of the Year from Ernst & Young, the Leadership Award from CNBC, and Best CEO (Financial Services) from Business Today.
Mr. Iyer has a degree in Commerce and has also been awarded a Doctor of Letters (D.Litt.). At present, he serves on the boards of several listed and unlisted companies. He is not related to any director of Kotak Mahindra Bank.
