India’s banking world is seeing many top bosses leave their posts at the same time. This 'leadership churn' (many leaders changing jobs) is happening at private banks and small finance banks alike. Recently, Ujjivan Small Finance Bank (SFB) and Kotak Mahindra Bank both shared news about their CEOs moving on. This follows a month where many Chief Financial Officers (CFOs) also changed roles.

At Ujjivan SFB, the MD and CEO Sanjeev Nautiyal has stepped down immediately due to health reasons. He joined the bank only in July 2024. Before this, he was a big name at State Bank of India (SBI), where he looked after financial inclusion and micro markets. He also led SBI Life Insurance. The bank board has now made Carol Furtado the Acting MD and CEO until a permanent person is found. She is currently the Executive Director, but the Reserve Bank of India (RBI) must approve her new role first.

Meanwhile, Kotak Mahindra Bank is also looking for a new leader. The current CEO, Ashok Vaswani, will leave when his term ends on December 31, 2026. He told the board he does not want to stay longer for personal reasons. The bank has already sent two names to the RBI as possible successors. These are internal candidates, meaning they already work high up in the bank.

The two names from Kotak are Paritosh Kashyap and Anup Saha. Paritosh Kashyap is a veteran who has been with Kotak for 31 years. He currently heads wholesale banking (banking services for large companies). Anup Saha joined Kotak in early 2026 after working at Bajaj Finance and ICICI Bank. He currently looks after retail banking (banking for individual people like you and me). Both are seen as strong choices to lead the bank next.

This trend is not limited to these two banks. HDFC Bank’s CEO, Sashidhar Jagdishan, also recently said he would not ask for more time after his term ends in October 2026. Experts say that while so many changes at the top can be worrying, these banks have strong internal teams. This means the bank’s daily work and long-term plans should not be disturbed too much.

For bank officers and aspirants, these movements show that there is a big demand for experienced leaders. The industry is currently doing well with high loan growth and 'benign asset quality' (very few bad loans or NPAs). As long as these banks pick strong successors, the sector is expected to stay stable. Watch out for the RBI's final decision on these names in the coming months.