HDFC Bank Appoints Rajiv Kumar as New Part-Time Chairman

HDFC Bank has appointed Rajiv Kumar as its new part-time Chairman, pending RBI approval. Kumar, a former Chief Election Commissioner, will serve for three years. The bank also announced Puneet Sharma as the new CFO, effective December 2026. This leadership change follows the resignation of Atanu Chakraborty due to ethical concerns. Sashidhar Jagdishan's tenure as CEO is also under review for reappointment. Read on for more details about these significant changes in HDFC Bank's leadership.

By Narendra Chaudhary Jun 30, 2026, 09:22 IST

Rajiv Kumar Takes the Helm at HDFC Bank

HDFC Bank has announced the appointment of Rajiv Kumar, a former Chief Election Commissioner and Finance Secretary, as its new part-time Chairman, pending approval from the Reserve Bank of India (RBI). Kumar's tenure will last for three years, starting from the date of RBI's approval. The bank confirmed that Kumar is eligible to serve as a Director and is not barred by any orders from SEBI or similar authorities.

Additionally, the board has appointed Kumar as an Independent Director for a four-year term beginning June 30, 2026, as stated in a regulatory filing. The bank also disclosed that Puneet Sharma will join as CFO, effective December 1, 2026, after serving over six years in the same role at Axis Bank. Meanwhile, Sashidhar Jagdishan's term as CEO is set to conclude on October 26, 2026, with expectations for his reappointment for a third term pending RBI's endorsement.

Jagdishan's current three-year term was approved by the RBI in 2023. The reappointment process, which had been delayed due to an external legal review, is anticipated to proceed following a report that cleared the bank of ethical concerns raised by former Chairman Atanu Chakraborty, who resigned in March.