HDFC Bank, India's largest private lender, has appointed former finance secretary Rajiv Kumar as its part-time chairman. The move comes after the abrupt resignation of Atanu Chakraborty raised governance concerns at the bank. Kumar brings extensive bureaucratic experience to the role, which he will hold alongside his corporate commitments.

The appointment signals HDFC Bank's effort to stabilize leadership following Chakraborty's sudden exit. As a part-time chairman, Kumar will provide strategic guidance while maintaining his other professional engagements. His background as a top government official aligns with the bank's need for experienced oversight during this transition period.

Market observers are watching closely given HDFC Bank's dominant market position and the governance questions that emerged after Chakraborty's departure. The part-time structure suggests Kumar will serve more as a mentor than a full-time operator, allowing the bank to leverage his expertise without tying him exclusively to the role.

This leadership change occurs as Indian private banks face increased regulatory scrutiny. The board's decision reflects an attempt to balance fresh perspective with institutional continuity, ensuring Rajiv Kumar's guidance supports ongoing operations.