New Delhi

The Reserve Bank of India (RBI) has approved the reappointment of C S Rajan as Part-Time Chairman of Kotak Mahindra Bank for a new term from January 1, 2026, to October 21, 2027, the bank announced in an official press release. This decision continues Rajan’s leadership at the private lender, where he has served as Part-Time Chairman since January 2024 and as an Independent Director since October 2022.

Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, said, “Kotak Mahindra Bank stands at an exciting juncture of growth and transformation. Mr. Rajan’s strategic vision and guidance will be invaluable as we navigate our next phase and create sustainable value for stakeholders.”

Expressing his gratitude, C S Rajan stated, “I am honoured to continue serving as Chairman. I look forward to working closely with the Board and management to strengthen the Bank’s position and deliver value to all stakeholders.”

Rajan’s distinguished career spans over four decades in public service and corporate leadership. A 1978-batch IAS officer and Postgraduate in History, he retired as Chief Secretary of Rajasthan in 2016. He held leadership roles in sectors such as energy, highways, water resources, industry, agriculture, and rural development. Post-retirement, he served as Deputy Chairman of the Rajasthan Chief Minister’s Advisory Council and held senior positions at IL&FS, including Managing Director and Non-Executive Chairman until September 2024.

In addition to his role at Kotak Mahindra Bank, Rajan serves as an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly owned subsidiary of the Bank. His reappointment underscores the bank’s commitment to experienced and stable leadership amid ongoing growth and transformation.