$HDFCBANK Bank Appoints Former Finance Secretary Rajiv Kumar as Part-Time Chairman

$HDFCBANK has appointed former Finance Secretary and ex-Chief Election Commissioner Rajiv Kumar as its part-time chairman, subject to approval from the Reserve Bank of India (RBI). He will also join the bank's board as an additional independent director for a three-year term. The appointment comes months after former chairman Atanu Chakraborty resigned, citing concerns over certain practices at the bank. An independent legal review later found no evidence supporting those allegations. Kumar, who served as Finance Secretary from 2017 to 2020, played a key role in public sector bank consolidation, bank recapitalization, and banking sector reforms. The bank has also appointed Puneet Sharma of Axis Bank as Chief Financial Officer, effective December 1. Market attention is now focused on the reappointment of CEO Sashidhar Jagdishan, whose current term ends in October. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.