HDFC Bank’s board appointed Rajiv Kumar as an Additional (Independent) Director and Part-time Chairman. Kumar, 66, previously served as India’s Finance Secretary and Chief Election Commissioner.
His four-year term as independent director begins June 30, 2026. The chairmanship spans three years, pending approval from the Reserve Bank of India and shareholders.
The appointment seeks to stabilize leadership following Atanu Chakraborty’s abrupt resignation in March 2026. Kumar is recognized for his previous work reforming India’s public sector banks.
This move precedes a board decision on CEO Sashidhar Jagdishan’s reappointment. Jagdishan’s current term concludes in October 2026.