The choice follows Kotak Mahindra Financial institution’s utility to the RBI searching for an extension of Rajan’s time period. His reappointment will align with the top of his present tenure as an Unbiased Director on the Financial institution’s Board.
Saying the RBI’s approval, Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Financial institution, mentioned, “Kotak Mahindra Financial institution stands at an thrilling juncture of development and transformation. As we navigate our subsequent part of development, we look ahead to Rajan’s continued management and strategic imaginative and prescient, which is able to assist us ship sustainable worth to our stakeholders.”
C S Rajan mentioned, “I’m honoured to proceed serving as Chairman of Kotak Mahindra Financial institution. I look ahead to working carefully with the Board and administration to additional strengthen the Financial institution’s place and ship worth to all stakeholders.”
Rajan has been serving as Half-Time Chairman since January 1, 2024, after RBI’s earlier approval for a two-year time period. A retired IAS officer from the 1978 batch, he has 46 years of expertise in public life, spanning governance, infrastructure, rural improvement, and administration.
He served as Chief Secretary to the Authorities of Rajasthan in 2016 and held key positions in sectors similar to power, highways, water sources, trade, and MSME improvement. He additionally contributed to World Financial institution initiatives associated to agriculture and rural improvement.After retirement, Rajan served as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council and later joined the Board of Infrastructure Leasing and Monetary Companies (IL&FS). Between 2018 and 2024, he held management roles at IL&FS, together with Managing Director, Chairman & Managing Director, and Non-Govt Chairman.He’s additionally an Unbiased Director on the Board of Kotak Mahindra Life Insurance coverage Firm Restricted, a wholly-owned subsidiary of the Financial institution.
