HDFC Bank has been granted approval by the Reserve Bank of India (RBI) to appoint Rajiv Kumar, former Finance Secretary and ex-Chief Election Commissioner, as its part-time chairman for a three-year term starting July 15, 2026. The RBI’s approval, under Section 10B(1A)(i) of the Banking Regulation Act, 1949, follows the bank’s request and a prior disclosure on June 29.
In a regulatory filing, HDFC Bank expressed its appreciation to Keki Mistry for his leadership and guidance while serving as the interim part-time chairman. Mistry will continue as a non-executive, non-independent director on the bank’s board.
Rajiv Kumar, known for his expertise in public policy, financial sector reforms, and governance, brings a wealth of experience to the position. As a 1984-batch Indian Administrative Service (IAS) officer, Kumar retired as Finance Secretary in February 2020 and later assumed the role of the 25th Chief Election Commissioner of India after a brief stint as chairman of the Public Enterprises Selection Board (PESB).
