Kotak Mahindra Bank Limited (KMBL) announced that the Reserve Bank of India (RBI) has approved the appointment of Mr.C S Rajan, Independent Director of the Bank, as the Part-time Chairman, for a period of two years, effective from 1st January 2024. Mr. Rajan’s appointment as the next Part-time Chairman of the Bank’s Board follows the retirement of the incumbent Part-time Chairman, Mr Prakash Apte, whose term expires on 31st December 2023.
Mr.C S Rajan, a former Chief Secretary of Rajasthan’s Government, has been appointed as an Independent Director on the Bank’s Board since October 22, 2022. With over 40 years of experience, Rajan has held leadership roles in key infrastructure sectors, including Energy, Highways, Water Resources, Industry, Agriculture and Rural Development, Human Resources, Finance, and General Administration.
Rajan, a World Bank consultant and former Deputy Chairman of Rajasthan’s Chief Ministers’ Advisory Council, was appointed by the Indian government in October 2018 to the Board of Infrastructure Leasing and Financial Services Limited (IL & FS). He has held various positions, including Director, Managing Director, Chairman & Managing Director, and Non-Executive Chairman. Mr. C S Rajan, Independent Director and Non-Executive Independent Part-Time Chairman – Designate, Kotak Mahindra Bank said, “I look forward to working collaboratively with the Board and the entire Team.”
