RBI Approves Rajiv Kumar as HDFC Bank Part-Time Chairman for Three-Year Term

The Reserve Bank of India (RBI) has approved the appointment of former Chief Election Commissioner Rajiv Kumar as Part-Time Chairman of HDFC Bank for a three-year period beginning July 15, 2026.

HDFC Bank disclosed the regulatory approval in an exchange filing, stating that the appointment was cleared under Section 10B(1A)(i) of the Banking Regulation Act, 1949. Rajiv Kumar’s Director Identification Number is 08049696.

The bank’s Board of Directors had approved the proposal at its meeting held on June 29, 2026, subject to RBI clearance. The application was subsequently submitted to the central bank, which communicated its approval on July 15, 2026.

Rajiv Kumar had earlier been appointed as an Additional Director in the capacity of an Independent Director for four years, effective June 30, 2026.

The appointment brings continuity to HDFC Bank’s board leadership following the resignation of former Part-Time Chairman Atanu Chakraborty on March 18, 2026. Veteran banker Keki Mistry subsequently served as Interim Part-Time Chairman during the transition.

HDFC Bank acknowledged Mistry’s contribution and guidance during his interim tenure. He will continue to serve on the bank’s board as a Non-Executive, Non-Independent Director.

With the required regulatory approval secured, Rajiv Kumar has formally assumed office as HDFC Bank’s Part-Time Chairman. His tenure will continue for three years from July 15, 2026. CA Sansaar