HDFC Bank: HDFC Bank, one of the largest private banks in the country, has entrusted the former Chief Election Commissioner of India CEC and former Finance Secretary, Rajeev Kumar. He has been appointed as part-time chairman. So now HDFC Bank has been appointed for pending posts.
What kind of fear is this? Indians are selling old jewelry, gold prices have increased the tension?
The Board of Directors has appointed him as Additional Independent Director for a period of four years from June 30, 2026. This decision is subject to the approval of the shareholders. In addition, he has also been elected as part-time president for the next three years. But it is still awaiting approval from the Reserve Bank of India.
Experience of Rajeev Kumar
A former IAS officer of 1984 batch, Rajiv Kumar has held many important positions in the Government of India. He has worked as the Finance Secretary of the country from 2017 to 2020. He has also served on the Central Board of the Reserve Bank of India and the Board of the State Bank of India.
As the 25th Chief Election Commissioner of India, he has experience of conducting the 2024 Lok Sabha elections only. Not only this, he also holds the world record for supervising the largest general election in the world. Besides, he is credited with implementing several important decisions including merger of public sector banks and recapitalization of over Rs 3 lakh crore. He will replace the former chairman of the bank, Atanu Chakraborty.
Why did Atanu Chakraborty resign?
The sudden resignation of former chairman Atanu Chakraborty in March this year led to uncertainty about leadership in the bank. But Rajiv Kumar’s appointment is expected to alleviate the concerns about corporate governance in the bank. Former President Atanu Chakraborty abruptly resigned from his post on 18 March 2026 citing values and ethics. In his resignation letter, he wrote that certain events or practices in the bank were inconsistent with its ethical values and principles. There was confusion due to all these situations. But now with the appointment to the post of President, it is expected that everything will be stable again.
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