The Reserve Bank of India ( RBI) has approved the reappointment of C S Rajan as Part-Time Chairman of Kotak Mahindra Bank Limited for a further period from January 1, 2026, to October 21, 2027.
The decision follows Kotak Mahindra Bank’s application to the RBI seeking an extension of Rajan’s term. His reappointment will align with the end of his current tenure as an Independent Director on the Bank’s Board.
Announcing the RBI’s approval, Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, said, “Kotak Mahindra Bank stands at an exciting juncture of growth and transformation. As we navigate our next phase of growth, we look forward to Rajan’s continued leadership and strategic vision, which will help us deliver sustainable value to our stakeholders.”
C S Rajan said, “I am honoured to continue serving as Chairman of Kotak Mahindra Bank. I look forward to working closely with the Board and management to further strengthen the Bank’s position and deliver value to all stakeholders.”
Rajan has been serving as Part-Time Chairman since January 1, 2024, after RBI’s earlier approval for a two-year term. A retired IAS officer from the 1978 batch, he has 46 years of experience in public life, spanning governance, infrastructure, rural development, and administration.
He served as Chief Secretary to the Government of Rajasthan in 2016 and held key positions in sectors such as energy, highways, water resources, industry, and MSME development. He also contributed to World Bank projects related to agriculture and rural development.
After retirement, Rajan served as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council and later joined the Board of Infrastructure Leasing and Financial Services (IL&FS). Between 2018 and 2024, he held leadership roles at IL&FS, including Managing Director, Chairman & Managing Director, and Non-Executive Chairman.
He is also an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the Bank.
The decision follows Kotak Mahindra Bank’s application to the RBI seeking an extension of Rajan’s term. His reappointment will align with the end of his current tenure as an Independent Director on the Bank’s Board.
Announcing the RBI’s approval, Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, said, “Kotak Mahindra Bank stands at an exciting juncture of growth and transformation. As we navigate our next phase of growth, we look forward to Rajan’s continued leadership and strategic vision, which will help us deliver sustainable value to our stakeholders.”
C S Rajan said, “I am honoured to continue serving as Chairman of Kotak Mahindra Bank. I look forward to working closely with the Board and management to further strengthen the Bank’s position and deliver value to all stakeholders.”
Rajan has been serving as Part-Time Chairman since January 1, 2024, after RBI’s earlier approval for a two-year term. A retired IAS officer from the 1978 batch, he has 46 years of experience in public life, spanning governance, infrastructure, rural development, and administration.
He served as Chief Secretary to the Government of Rajasthan in 2016 and held key positions in sectors such as energy, highways, water resources, industry, and MSME development. He also contributed to World Bank projects related to agriculture and rural development.
After retirement, Rajan served as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council and later joined the Board of Infrastructure Leasing and Financial Services (IL&FS). Between 2018 and 2024, he held leadership roles at IL&FS, including Managing Director, Chairman & Managing Director, and Non-Executive Chairman.
He is also an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the Bank.
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