HDFC Bank's Board has appointed Rajiv Kumar as Part-time Non-Executive Chairman, subject to regulatory approvals from the Reserve Bank of India. Kumar, a 1984-batch IAS officer, will also serve as an Additional Independent Director for a four-year term effective June 30, 2026, while his three-year tenure as Chairman commences upon RBI approval.
Kumar brings three decades of public administration experience. As Secretary, Department of Financial Services, he played a central role in India's banking sector reforms, including the implementation of the 4R Strategy—Recognition, Resolution, Recapitalisation, and Reforms. Most recently, he served as Chief Election Commissioner of India, overseeing the conduct of the 2024 General Elections.
The appointment follows the resignation of former Chairman Atanu Chakraborty earlier this year. Keki Mistry has served as interim chairman during the transition period. Kumar's appointment addresses the need for permanent leadership at the country's largest private sector bank.
HDFC Bank's Board announcement emphasises that Kumar's appointment reflects the lender's continued focus on strong governance, board independence, and regulatory expertise—critical factors as India's banking sector enters its next phase of growth.
