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 term starting January 1, 2026, and ending October 21, 2027. Rajan has been serving as Part-Time Chairman since January 1, 2024, and was initially appointed as an Independent Director on the Bank’s Board in October 2022.
Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, welcomed the RBI’s approval, stating that the bank is at an exciting juncture of growth and transformation, and that Rajan’s continued leadership and strategic vision will be valuable in delivering sustainable value to stakeholders. Rajan expressed gratitude for the continued trust placed in him and looks forward to working closely with the Board and management to strengthen the Bank’s position and deliver value to all stakeholders.
Rajan’s career spans over four decades in public service and corporate leadership. He is an accomplished leader with 46 years of experience in public life, having retired as the Chief Secretary of the Government of Rajasthan in 2016. During his career, he served in leadership roles for 12 years in key infrastructure sectors and 14 years in agriculture and rural development.
After retirement, Rajan continued to play key roles in governance and corporate restructuring, serving as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council and later joining the Government of India-appointed Board of Infrastructure Leasing and Financial Services Limited (IL&FS). He also serves as an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the Bank.
Rajan’s reappointment as Part-Time Chairman is expected to bring stability and continuity to the Bank’s leadership, allowing it to navigate its next phase of growth and transformation. With his extensive experience in public service and corporate leadership, Rajan is well-equipped to guide the Bank in delivering sustainable value to its stakeholders. The Bank’s management and Board look forward to his continued leadership and strategic vision, which will be crucial in shaping the Bank’s future growth and success.