Key Appointments and Dates

The Board of Directors of HDFC Bank Limited at its meeting held on June 29, 2026 (commencing at 7:15 p.m. and ending at 8:10 p.m.) approved:

  • Appointment of Mr. Rajiv Kumar (DIN: 08049696) as an Additional Director (Independent Director) of the Bank for a period of 4 years, with effect from June 30, 2026. This appointment is subject to approval of Shareholders of the Bank.
  • Appointment (including remuneration) of Mr. Rajiv Kumar as a Part-time Chairman of the Bank for a period of 3 years, effective from the date approved by Reserve Bank of India (RBI). This appointment is subject to RBI approval.

Director Eligibility and Relationships

It is confirmed that Mr. Rajiv Kumar is not debarred from holding the office of a Director by virtue of any order passed by SEBI or any other such authority. Mr. Rajiv Kumar is not related to any other Directors or Key Managerial Personnel of the Bank.

Corporate Governance Update

The Board approved the revised Notice convening the 32nd Annual General Meeting of the Members of the Bank scheduled to be held on Wednesday, August 5, 2026, by way of inclusion of resolution(s) relating to the above appointments.

Director Profile Details

Mr. Rajiv Kumar (age: 66 years) is a 1984-batch Ex IAS officer widely regarded for his transformative role in revitalising India's banking and financial sector during 2017-2020. He retired as Finance Secretary of India in February 2020 and briefly served as Chairman of Public Enterprises Selection Board (PESB) post-retirement.

As Secretary, Department of Financial Services (2017-2020), he led comprehensive reforms including:

  • Freezing accounts of approximately 3.38 lakh shell companies targeting black money architecture
  • Implementation of The Banning of Unregulated Deposits Schemes Act, 2019 to curb Ponzi schemes
  • Transparent recognition and provisioning of NPAs in public sector banks
  • Enforcement of accountability under Insolvency and Bankruptcy Code framework
  • Unprecedented recapitalisation of public sector banks exceeding ₹3 lakh crore
  • Consolidation of 27 public sector banks into 12 stronger entities
  • Rationalisation of Regional Rural Banks into one state-one RRB structure
  • Mandatory passport details for loans of ₹50 crore and above
  • Specialised monitoring for exposures above ₹250 crore
  • IT-based risk scoring on 34-plus factors
  • Enhancement of deposit insurance coverage from ₹1 lakh to ₹5 lakh
  • Acceleration of financial inclusion under Jan Dhan framework
  • Coordinated response to NBFC sector liquidity crisis

Mr. Kumar served as the 25th Chief Election Commissioner of India, during which world records were created with participation of approximately 642 million electors and approximately 312 million women electors during 2024 General Elections to Lok Sabha.

He has served on or chaired most bodies touching India's financial architecture including:

  • Central Board of Reserve Bank of India
  • Financial Stability and Development Council
  • Financial Sector Regulatory Appointments Search Committee
  • Secretary of the Appointment Committee of the Cabinet (ACC)
  • Public Enterprises Selection Board
  • Bank Board Bureau
  • Boards of State Bank of India and NABARD
  • Expert committee on the Central Bank's economic capital framework
  • Committee on restructuring of NITI Aayog