Separately, HDFC Bank has also announced a significant change at the board level. The lender appointed Rajiv Kumar as an Additional Independent Director for a four-year term effective June 30, 2026, subject to shareholder approval. The board has further named Kumar as Part-time Chairman for a three-year term, subject to approval from the Reserve Bank of India. A 1984-batch IAS officer and former Finance Secretary of India, Kumar is widely known for his role in steering the banking sector’s clean-up effort between 2017 and 2020 through the 4R strategy: Recognition, Resolution, Recapitalisation and Reforms.
