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MUMBAI: The RBI has approved the appointment of C S Rajan, independent director of Kotak Mahindra Bank, as its part-time chairman, the bank announced on Wednesday. The approval is effective from January 1, 2024, marking a two-year tenure.
The decision to appoint Rajan as the next part-time chairman follows the retirement of the outgoing chairman, Prakash Apte, whose term concludes on December 31, 2023. Rajan has over 40 years of experience in various government portfolios. The retired IAS officer assumed the role of independent director on the bank’s board on October 22, 2022. Rajan takes charge at a time when the bank is seeing a complete change in top management.
The decision to appoint Rajan as the next part-time chairman follows the retirement of the outgoing chairman, Prakash Apte, whose term concludes on December 31, 2023. Rajan has over 40 years of experience in various government portfolios. The retired IAS officer assumed the role of independent director on the bank’s board on October 22, 2022. Rajan takes charge at a time when the bank is seeing a complete change in top management.
