Former Chief Election Commissioner (CEC) and senior retired IAS officer Rajiv Kumar has been approved by the Board of HDFC Bank for appointment as its Part-time Chairman, subject to the approval of the Reserve Bank of India (RBI). He will succeed Keki Mistry, who has been serving as the bank’s interim Part-time Chairman.
According to a regulatory filing made by the bank on Monday (June 29, 2026), the Board has approved Rajiv Kumar’s appointment as Part-time Chairman for a period of three years, subject to RBI approval. The Board has also recommended his appointment as an Independent Director for a period of four years with effect from June 30, 2026, subject to the approval of shareholders at the bank’s 32nd Annual General Meeting (AGM) scheduled for August 5.
Rajiv Kumar is a former IAS officer who served as Secretary, Department of Financial Services between 2017 and 2020. During his tenure, he led several key banking sector reforms, including the recapitalisation and consolidation of public sector banks, and played a significant role in the merger of Vijaya Bank and Dena Bank with Bank of Baroda. He also spearheaded reforms relating to banking technology, digital payments, deposit protection and financial stability. Later, he served as the 25th Chief Election Commissioner of India before demitting office in February 2025. He was succeeded by the incumbent Chief Election Commissioner, Gyanesh Kumar.
The appointment comes after months of uncertainty at HDFC Bank following the resignation of then Part-time Chairman Atanu Chakraborty in March 2026. Subsequently, the RBI permitted Keki Mistry to continue as Part-time Chairman for three months or until a new non-executive chairman was appointed. Last week, the bank informed stock exchanges that three independent law firms, including one from the United States, found no basis for the allegations made by Chakraborty.
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