In clean-up drive, ex-CEC Rajiv Kumar named HDFC chairman

The HDFC Bank board has made a significant appointment, naming Rajiv Kumar as the chairman of the bank. This decision is subject to approval from the Reserve Bank of India. Kumar's term is set to begin on June 30 and is proposed to last for four years. The appointment of Kumar, who has previously served as the chief election commissioner and finance secretary, marks a new chapter for the bank. The bank's board has put forth this proposal, which now awaits the necessary approval from the RBI. The appointment of Rajiv Kumar as chairman is seen as a key development for HDFC Bank, given his extensive experience in governance and finance. His background in public service, including his roles as chief election commissioner and finance secretary, is expected to bring a new perspective to the bank's leadership. The bank's decision to appoint Kumar is part of its efforts to strengthen its leadership and ensure continuity. With his proposed four-year term, Kumar is expected to play a significant role in shaping the bank's future strategy and direction. The RBI's approval is now awaited, which will formally confirm Kumar's appointment as the chairman of HDFC Bank.