Rajiv Kumar, Former Election Chief, Appointed HDFC Bank Chairman for Three Years
The board of HDFC Bank has approved the appointment of former Chief Election Commissioner of India Rajiv Kumar as part-time Chairman for a period of three years, effective from the date as approved by the Reserve Bank of India (RBI).
Kumar, 66, a 1984-batch ex-IAS officer and former Finance Secretary of India in February 2020, has also been appointed as Additional Director (Independent) of the bank for a period of four years effective June 30, 2026, the bank said in an exchange filing.
His appointment comes more than three months after former part-time chairman Atanu Chakraborty resigned with immediate effect on March 18, stating that 'certain happenings and practices within the bank are not in congruence with my personal values and ethics.' The bank engaged law firms Wilson Sonsini Goodrich & Rosati, PC and Wadia Ghandy & Co to review the matter. The firms stated that the contemporaneous evidence reviewed was inconsistent with Chakraborty’s statement, and their review did not identify any basis for the statement.
Rajiv Kumar served as the 25th Chief Election Commissioner of India from August 2022 to February 2025, and previously held key positions including Finance Secretary and Secretary of the Department of Financial Services. His appointment to the HDFC Bank board is subject to regulatory approvals.
