RBI nod to HDFC Part-Time Chairman appointment

1 min readMumbaiJul 16, 2026 12:44 AM IST

The Reserve Bank of India (RBI) on Wednesday approved the appointment of former Finance Secretary and ex-Chief Election Commissioner Rajiv Kumar as the Part-Time Chairman of HDFC Bank for a period of three years, effective July 15, 2026.

The appointment has been made under Section 10B(1A)(i) of the Banking Regulation Act, 1949, the bank said in a regulatory filing.

Kumar, 66, is a 1984-batch IAS officer, who served as Finance Secretary to the Government of India before being appointed Chief Election Commissioner in 2022. He retired from the Election Commission in February 2025.

Keki Mistry, who was interim Part-time Chairman, will continue to serve as a Non-Executive Non-Independent Director on the bank’s board.

Kumar succeeds former Part-time Chairman Atanu Chakraborty, who resigned with immediate effect on March 18.

In his resignation letter, Chakraborty said that “certain happenings and practices within the bank are not in congruence with my personal values and ethics,” without elaborating further.