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HDFC Bank has said its board has approved appointment of Rajiv Kumar, a former civil servant and a financial sector expert, to succeed Keki Mistry as its part-t

The bank also confirmed that Kumar is not barred by Securities and Exchange Board of India or any other authority from holding a directorship position.

HDFC Bank has appointed former Finance Secretary Rajiv Kumar as independent director and chairman-designate, subject to RBI approval. He will replace Atanu Chakraborty as the bank highlights Kumar's record in banking clean-up and financial sector reforms.

HDFC Bank's board has approved the appointment of former Finance Secretary Rajiv Kumar as its part-time Chairman for a three-year term, subject to approvals from the Reserve Bank of India (RBI) and shareholders, the bank said in a regulatory filing on Monday.

Rajiv Kumar is a former Indian Administrative Service (IAS) officer with over four decades of experience in public policy, financial sector reforms and institution building.

In his resignation letter, Sharma said the organisation had reached a significant stage in its transformation, making it the right time for him to pursue the next phase of his professional journey.

Motilal Oswal names HDFC Bank, ICICI Bank, SBI and AU Small Finance Bank as its top financial picks. Here's why the brokerage remains positive on these banking stocks.

Dubai matter was discussed by board resulting in action against senior executives of the bank: Atanu Chakraborty on Credit Suisse's AT-1 bonds issue

The favourable legal review is likely to pave the way for HDFC Bank to expedite the appointment of a permanent chairman and the reappointment of Managing Director and CEO Sashidhar Jagdishan.

HDFC Bank gets a fresh boost as Jefferies reiterates its Buy rating with a target price of Rs 1,050, implying 32% upside. Here's why the brokerage believes legal clarity could become a key catalyst for the stock.