Kotak Mahindra Prime Appoints Suraj Rajappan as MD & CEO
Leadership Transition at Kotak Mahindra Prime Limited
New Delhi, March 30 – Kotak Mahindra Prime Limited (KMPL) announced the appointment of Suraj Rajappan as Managing Director & Chief Executive Officer, effective June 1, 2026, subject to member approval. The Board of Directors made the decision on Monday.Shahrukh Todiwala, the current MD and CEO, will retire on May 31, 2026, after more than three decades with the Kotak Group.
Suraj Rajappan began his career with KMPL and brings 24 years of experience to the role, encompassing various functions within the company. KMPL is a subsidiary of Kotak Mahindra Bank Limited.
Ashok Vaswani, MD and CEO, Kotak Mahindra Bank, stated, “We welcome Suraj to lead the company. His extensive industry experience and ability to execute will position KMPL well for its next phase of growth.” He also acknowledged Shahrukh Todiwala’s legacy of prudent growth, risk management, and customer-centricity.
Suraj Rajappan indicated that KMPL will continue its focus on disciplined growth, innovation, and delivering the best customer experience, while strengthening partnerships with original equipment manufacturers (OEMs) and dealer partners.
KMPL was established in 1996 as a 60:40 joint venture between Kotak Mahindra Finance and Ford Credit International. In 2005, Kotak Mahindra Bank acquired Ford Credit’s stake, resulting in KMPL becoming a wholly-owned subsidiary of the Kotak Group and subsequently being renamed Kotak Mahindra Prime Limited.
In 2025, the Department for Promotion of Industry and Internal Trade (DPIIT) signed a memorandum of understanding (MoU) with Kotak Mahindra Bank to bolster the nation's startup ecosystem. This strategic collaboration intends to provide startups with customized banking solutions, credit, and funding opportunities, alongside digital and payment infrastructure and capacity-building programs.
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