Kotak Mahindra Bank, on December 27, announced that the Reserve Bank of India (RBI) has granted approval for the appointment of C S Rajan, who currently serves as an Independent Director of the bank, as the Part-time Chairman. This appointment is effective from January 1, 2024, and is slated to last for a period of two years.

C S Rajan assumed the role of Independent Director on the Bank's Board starting from October 22, 2022. “I am deeply humbled and honoured to accept the appointment as Chairman of the Bank and thank the Board for entrusting me with the responsibility to steer the Bank to new heights and increase stakeholder value. I look forward to working collaboratively with the Board and the entire Team," C S Rajan, Independent Director and Non-Executive Independent Part-Time Chairman, Kotak Mahindra Bank said. “We thank Mr. Prakash Apte for his contribution to the Bank, first as an Independent Director and subsequently as the Chairman of the Bank’s Board. We would like to congratulate Mr. C S Rajan on his appointment as Chairman of the Bank’s Board. We are confident that the Bank will benefit immensely from Mr. Rajan’s guidance for its next phase of growth," said Dipak Gupta, Managing Director & CEO, Kotak Mahindra Bank. C S Rajan has experience of over 40 years across significant government portfolios. He assumed the role of an Independent Director on the Bank's Board on October 22, 2022. A distinguished IAS officer from the 1978 batch, he concluded his service as the Chief Secretary of the Government of Rajasthan in 2016. During his career, Rajan held leadership positions for 12 years in crucial infrastructure sectors, including Energy, Highways, Water Resources, and Industry, encompassing SSI/MSME. Additionally, he contributed his expertise for 14 years in the domains of Agriculture and Rural Development, as highlighted by the Bank. In October 2018, the Government of India appointed Rajan to the Board of Infrastructure Leasing and Financial Services Limited (IL & FS). Initially serving as a Director, he later assumed the role of Managing Director for a period of three and a half years, followed by a year as Chairman & Managing Director. Subsequently, he transitioned to the role of Non-Executive Chairman of IL & FS. Apte emphasized that Rajan's extensive expertise spanning crucial sectors for India's future, including infrastructure, roads, energy, agriculture, rural development, industry, and commerce, will offer a fresh perspective to the discussions and significantly contribute to the Bank's growth. Livemint tops charts as the fastest growing news website in the world to know more.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!