New Delhi, March 30: Kotak Mahindra Prime Limited (KMP) has announced the appointment of Suraj Rajappan as Managing Director and Chief Executive Officer (CEO). The decision was made by the company’s Board of Directors and will take effect from June 1, 2026, pending shareholder approval.
Current MD and CEO Shah Rukh Todiwala is set to retire on May 31, 2026, after over three decades with the Kotak Group.
Suraj Rajappan began his career at KMP and boasts 24 years of experience within the company. KMP is a subsidiary of Kotak Mahindra Bank.
Ashok Vaswani, MD and CEO of Kotak Mahindra Bank, expressed confidence that Rajappan’s experience and capabilities will drive the company forward. He also acknowledged Todiwala’s contributions to the company’s robust and balanced growth.
Rajappan stated that KMP will continue to focus on balanced growth, innovation, and enhancing customer experience. The company aims to strengthen its relationships with OEMs and dealer partners.
Over nearly three decades, KMP has evolved alongside India’s automobile and consumer credit markets. The company emphasizes risk management, improved governance, and robust systems.
Founded in 1996 as a joint venture between Kotak Mahindra Finance and Ford Credit International, KMP became a wholly-owned subsidiary of Kotak Mahindra Bank in 2005, leading to its rebranding.
Additionally, in 2025, the DPIIT signed a Memorandum of Understanding with Kotak Mahindra Bank to bolster the country’s startup ecosystem. This partnership aims to provide startups with banking services, loans, funding, digital infrastructure, and training.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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