Rajiv Kumar named HDFC Bank part time chairman pending approvals
Business
HDFC Bank just picked Rajiv Kumar, India's former chief election commissioner, as its new part-time (nonexecutive) chairman for three years.
He will also serve as an independent director from June 30, 2026, for a four-year term, but his role still needs a green light from shareholders and the Reserve Bank of India.
This move follows the sudden exit of Atanu Chakraborty earlier this year over ethical disagreements.
Rajiv Kumar brings 4R reforms expertise
Before his stint running elections, Kumar led key banking reforms as secretary of financial services, helping public sector banks bounce back from bad loans with his "4R strategy."
HDFC Bank is counting on his experience in governance and risk management to guide it through its next phase of growth.