Bengaluru, 27th October, 2025: Kotak Mahindra Bank Limited (KMBL or “Kotak” or “the Bank”) today announced that the Reserve Bank of India (RBI) has approved the reappointment of Mr. C. S. Rajan as Part-Time Chairman of the Bank for a further term, from January 1, 2026, to October 21, 2027, in accordance with Section 10(B)(1A)(i) of the Banking Regulation Act, 1949.
Commenting on the development, Mr. Ashok Vaswani, Managing Director & CEO, Kotak Mahindra Bank, said:
“Kotak Mahindra Bank stands at an exciting juncture of growth and transformation. As we navigate our next phase of progress, we look forward to Mr. Rajan’s continued leadership and strategic guidance, which will help us deliver sustainable value to our stakeholders.”
Expressing his gratitude, Mr. C. S. Rajan, Part-Time Chairman, Kotak Mahindra Bank, said:
“I am honoured to continue serving as Chairman of Kotak Mahindra Bank. I look forward to working closely with the Board and management to further strengthen the Bank’s position and deliver value to all stakeholders.”
Mr. Rajan’s reappointment ensures continuity in leadership and governance as the Bank advances on its strategic growth path. He has been serving as Part-Time Chairman since January 1, 2024, following the RBI’s earlier approval for a two-year term.
A Post Graduate in History, Mr. Rajan is an accomplished leader with over 46 years of experience in public service. He joined the Indian Administrative Service (IAS) in 1978 and retired as Chief Secretary of the Government of Rajasthan in 2016. Over his extensive career, he has held leadership roles across critical infrastructure sectors including Energy, Highways, Water Resources, and Industry (SSI/MSME), and has dedicated 14 years to Agriculture and Rural Development. His experience also spans Human Resources, Finance, and General Administration.
Mr. Rajan has contributed to World Bank agricultural projects and co-authored a publication on Farmer Participation in Agricultural Research and Extension Systems. Post-retirement, he served as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council for two and a half years.
In October 2018, Mr. Rajan was appointed by the Government of India to the Board of Infrastructure Leasing and Financial Services Limited (IL&FS). Over six years, he held several leadership positions, including Managing Director, Chairman & Managing Director, and Non-Executive Chairman, until his resignation in September 2024.
Mr. Rajan is also an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly-owned subsidiary of the Bank.
His reappointment reaffirms Kotak Mahindra Bank’s commitment to strong governance, strategic continuity, and sustainable growth.
