Rajiv Kumar Named HDFC Bank Chairman

HDFC Bank has appointed former Chief Election Commissioner Rajiv Kumar as its new Chairman. The bank’s board approved his appointment as an Independent Director for a four-year term effective from June 30. It also approved his appointment as Part-Time Chairman for three years, subject to approval from the Reserve Bank of India (RBI). Rajiv Kumar served as the Chief Election Commissioner during the 2024 Lok Sabha elections.

The chairman’s position had remained vacant since March following the resignation of former Chairman Atanu Chakraborty, who stepped down citing ethical concerns. In his resignation, Chakraborty stated that certain developments and practices within the bank were inconsistent with his personal values and ethics. Rajiv Kumar’s appointment is expected to provide stable leadership to India’s largest private sector bank.