Ramesh Ganesh Iyer Joins Kotak Mahindra Bank As Independent Director; Dr. Ashok Gulati To Retire
Ramesh Ganesh Iyer has been appointed as an Independent Director (Additional Director) of Kotak Mahindra Bank Limited, with effect from February 17, 2026, subject to the approval of the shareholders. He will be replacing Dr. Ashok Gulati, who is set to retire, effective March 5, 2026, upon completion of his tenure.
Iyer has been associated with the Mahindra Group for over four decades. He served as Vice Chairman and Managing Director (MD) of Mahindra & Mahindra Financial Services (MMFSL) and as President of the Financial Services Sector and Member of the Group Executive Board of Mahindra & Mahindra until April 2024. As CEO of MMFSL from 1999, he led its expansion in rural finance, increasing assets, reach, and customer base. He also supported the formation of subsidiaries in housing finance, insurance broking, and asset management, and helped establish international joint ventures. He has received awards from Ernst & Young, CNBC, and Business Today. He serves on multiple Boards and holds a commerce degree and a Doctor of Letters (D.Litt.).
Dr. Gulati is a distinguished Professor at the Indian Council for Research on International Economic Relations (ICRIER). He earlier served as Chairman of the Commission for Agricultural Costs and Prices from 2011 to 2014 and as Director at the International Food Policy Research Institute between 2001 and 2011. He has been an Independent Director on the Boards of the Reserve Bank of India, the National Bank for Agriculture and Rural Development (NABARD), and the National Commodity and Derivatives Exchange (NCDEX). He serves on the Eleventh Audit Advisory Board of the Comptroller and Auditor General of India and is an Independent Director at Godrej Agrovet Ltd. He received the Padma Shri in 2015 and has authored 20 books.
