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Informist, Wednesday, Jul. 15, 2026

 

--RBI approves appointment of Rajiv Kumar as HDFC Bank Part Time Chairman 

--RBI approves Rajiv Kumar as HDFC Bank Part Time Chairman for 3 years 

 

MUMBAI – The Reserve Bank of India has approved the appointment of former election commissioner Rajiv Kumar as part-time chairman of the bank for a period of three years, effective Wednesday, the lender said in an exchange filing. In June, HDFC Bank had appointed Kumar as part-time chairman. 

 

With the RBI's approval in place, Kumar is set to replace Keki Mistry who was appointed as interim part-time chairman of the bank after Atanu Chakraborty resigned in March, citing differences with the management over "values and ethics". Mistry will continue to be a non-executive, non-independent director of the bank, HDFC Bank said in the filing Wednesday. 

 

Kumar's onboarding as part-time chairman is effective from the date of approval by the RBI. HDFC Bank's board had also approved Kumar's appointment as an independent director for four years, in June, the lender had disclosed in an exchange filing.

 

Kumar, a former Indian Administrative Service officer of the 1984 batch, retired as finance secretary in February 2020. He has also served as chairman of the Public Enterprises Selection Board and was the 25th chief election commissioner of India.

 

For the March quarter, HDFC Bank had reported a net profit of INR 192.21 billion and a total income of INR 898.09 billion. Wednesday, shares of the bank ended at INR 815.45 apiece on the National Stock Exchange, up nearly 1% from Tuesday.  End

 

Reported by Diksha Tripathy 

Edited by Avishek Dutta

 

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