Mumbai, June 29 -- The board of HDFC Bank, late on Monday, approved the appointment of Rajiv Kumar as part-time chairman and additional (independent) director, three days after an external legal review cleared the bank in the controversy surrounding the exit of former chairman Atanu Chakraborty.

Kumar, who is a former chief election commissioner (CEC) and financial services secretary, will succeed interim chairman Keki Mistry.

The appointment requires approval from the Reserve Bank of India (RBI) under banking regulations. Kumar's position as chairman will be valid for three years from the date of approval by RBI.

His appointment as independent director will be for four years effective 30 June 2026. Both appointments are subject to sha...