Rajiv Kumar has been appointed as the new chairman of HDFC Bank for a four-year term. Known for overseeing the 2024 Lok Sabha elections which recorded the largest voter participation and saw the BJP elected to power for a third consecutive term, the former Chief Election Commissioner (CEC) brings vast administrative experience to the private sector lender. According to official reports, Kumar will join the HDFC Bank board on June 30 as an Independent Director. The board has approved his appointment as the part-time chairman for a three-year term, which will take effect once cleared by the Reserve Bank of India..
Who is Rajiv Kumar?
A 1984-batch Indian Administrative Service (IAS) officer of the Jharkhand cadre., Rajiv Kumar has held several high-profile public offices. Before his stint as the 25th CE, he served as the Union Secretary for the Department of Financial Services (DFS) between 2017 and 2020. During his time at the DFS, Kumar was credited with cleaning up the banking sector’s bad loan crisis. He spearheaded major public sector bank (PSB) reforms by introducing greater transparency and stricter provisioning rules for Non-Performing Assets (NPAs). He is best known for implementing the ‘4R Strategy’ Recognition, Resolution, Recapitalisation, and Reforms which helped restore state-run lenders to profitability and resulted in the massive consolidation of 27 public sector banks into 12 larger entities.
Rajiv Kumar’s Controversies
Kumar officially takes charge at HDFC Bank today, succeeding Atanu Chakraborty, who resigned from the chairmanship earlier this year citing governance and ethical concerns. While Kumar’s financial track record is highly regarded, his tenure as Chief Election Commissioner was not without friction. Opposition parties frequently criticized the poll panel under his leadership, labeling it as biased toward the ruling party during general elections. However, Kumar consistently dismissed all allegations regarding EVM tampering and electoral roll manipulation, staunchly defending the transparency and integrity of India’s democratic processes.
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Shamshad Ali is a New Delhi–based journalist with over six years of experience spanning breaking news writing, on-the-ground reporting, and editing. When he isn’t chasing headlines, Shamshad is usually exploring new destinations, discovering hidden culinary gems, and striking up conversations with strangers. Many of whom turn out to be great sources, and even better friends. He can be reached at shamshadali.dar@gmail.com.
