Former Election Commissioner Rajeev Kumar becomes the chairman of HDFC Bank, will take command

HDFC Bank, one of India’s largest private banks, on Monday appointed former Chief Election Commissioner of India Rajiv Kumar as its part-time (non-executive) chairman. Former chairman Atanu Chakraborty, surrounded by irregularities in the bank, had resigned in March, after which the post was lying vacant.

Former IAS officer Rajeev Kumar was the target of the opposition when he was the Chief Election Commissioner of India.

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Shareholder approval required

The Board of HDFC Bank, in its meeting held on June 29, has approved the appointment of Rajeev Kumar as Additional (Independent) Director for four years from June 30, 2026. His appointment as part-time chairman for three years is subject to the approval of the Reserve Bank of India. At the same time, shareholder approval will also be necessary for appointment as an independent director.

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Why did Atanu Chakraborty step down?

After Atanu Chakraborty stepped down in March, veteran banker Keki Mistry, an independent director on the bank’s board, took over as interim part-time chairman. RBI had approved giving 90 days extension to Keki Mistry to continue in the post, which had now ended.

Let us tell you that Atanu Chakraborty had suddenly resigned from the post on March 18, 2026, saying that some incidents and methods inside the bank in the last two years did not match his ‘personal values’ and ethics.

Rajiv Kumar on the economic front

Rajeev Kumar is the second IAS officer to serve on this post. Kumar is a 1984 batch IAS officer of Jharkhand cadre. Before him, former chairman Atun Chakraborty was a retired IAS officer of 1985 batch of Gujarat cadre. Rajiv Kumar worked as the Secretary of the Department of Financial Services (DFS) from 2017 to 2020. During this time he worked to crack down on shell companies and black money in the financial services system.