RBI Approves Rajiv Kumar as HDFC Bank Part-Time Chairman for Three Years
The Reserve Bank of India (RBI) has approved the appointment of Rajiv Kumar as the Part-Time Chairman of HDFC Bank for a three-year term, effective July 15, 2026. Kumar, a former Finance Secretary and Chief Election Commissioner, will take up the role under Section 10B(1A)(i) of the Banking Regulation Act, 1949, the bank confirmed in a regulatory filing.
Rajiv Kumar, aged 66, is a retired Indian Administrative Service (IAS) officer of the 1984 batch. He served as Finance Secretary to the Government of India before being appointed as Chief Election Commissioner in 2022, a position he held until his retirement in February 2025.
Keki Mistry, who had been serving as the interim Part-Time Chairman, will continue on the bank's board as a Non-Executive Non-Independent Director.
The appointment is part of the bank's regular governance procedures and aligns with regulatory norms. HDFC Bank is one of India's largest private sector banks, and the appointment of a former top bureaucrat and election official is seen as a move to bring seasoned administrative experience to its leadership.
