RBI nudges HDFC Bank to end search for non-executive chairman

Business Jun 17, 2026

The Reserve Bank of India has nudged HDFC Bank to wrap up its search for a new non-executive, part-time chairman, since Interim Chairman Keki Mistry's term is almost over.
The hunt started in late April 2018, after Atanu Chakraborty quit in March 2018 (on March 17, 2018), but things have moved slowly, and now the RBI is keeping a close eye on the process.

Non-executive requirement could stall HDFC Bank

Finding the right chairman isn't just about ticking boxes.
The RBI wants the new leader in place soon so they can oversee big decisions, like whether MD and CEO Sashidhar Jagdishan gets his term extended.
Since rules say the chair must be a non-executive, independent director (which rules out Mistry), any more delays could hold up key leadership moves at HDFC Bank.