HDFC Bank has appointed former Chief Election Commissioner and former Finance Secretary Rajiv Kumar as its part-time chairman for a three-year term, subject to approval from the Reserve Bank of India (RBI). The appointment was approved by the bank's board on June 29 and will become effective from the date of RBI approval.

The board has also appointed Kumar as an additional independent director for a four-year term starting June 30, subject to shareholders' approval. The proposal will be placed before shareholders at the bank's annual general meeting scheduled for August 5.

Rajiv Kumar is a 1984-batch IAS officer who has held several key positions in the Indian government, including Finance Secretary and Secretary in the Department of Financial Services between 2017 and 2020. He later served as the 25th Chief Election Commissioner of India and has also been a member of the RBI's Central Board, the Financial Stability and Development Council, and the boards of State Bank of India and NABARD.

The appointment follows the RBI's extension of Keki Mistry's tenure as interim chairman after the resignation of former chairman Atanu Chakraborty in March. The bank's search for a permanent non -executive chairman had remained ongoing during the interim period.

In addition to the chairman appointment, HDFC Bank announced key changes to its senior management. Puneet Sharma has been appointed Chief Financial Officer-designate from September 1, 2026, and will assume the role of Chief Financial Officer from December 1, 2026. Jigar Shah has also been appointed General Counsel-designate from August 20 and will take over as General Counsel from October 1.

The appointments come after an independent legal review found no evidence supporting allegations made by former chairman Atanu Chakraborty in his resignation letter, helping address governance-related concerns surrounding the bank.