The shares of HDFC Bank will remain in focus on Tuesday after India's largest private lender appointed Rajiv Kumar, a former IAS officer and ex-Chief Election Commissioner of India, as its Part-time (Non-Executive) Chairman, concluding a months-long search after the abrupt exit of Atanu Chakraborty in March.
In an exchange filing released on Monday, HDFC Bank said that its board during its meeting approved Kumar’s appointment as an Additional (Independent) Director for a period of four years with effect from June 30, 2026. His appointment as Part-time Chairman for a period of three years is subject to RBI’s approval. The appointment as Independent Director will additionally require shareholder approval.
