HDFC Bank Appoints Rajiv Kumar as Part-Time Chairman
June 29 (Reuters) – HDFC Bank has announced the appointment of Rajiv Kumar, previously a public policy expert, as its new part-time chairman for a three-year term. This decision is pending approval from the Reserve Bank of India.
This appointment follows a recent legal review of the bank, which found no evidence supporting the concerns raised by former chairman Atanu Chakraborty. Chakraborty resigned in March, citing differences in ethics with the bank, which is India’s largest private lender.
Kumar’s role as an independent director will start on June 30, while his tenure as part-time chairman will begin once approved by the RBI, as stated by the bank.
(Reporting by Chandini Monnappa in Bengaluru; Editing by Diti Pujara)
