RBI approves reappointment of CS Rajan as part-time chairman of Kotak Mahindra Bank

The Reserve Bank of India (RBI) has approved the reappointment of CS Rajan as part-time chairman of Kotak Mahindra Bank Limited for another term commencing January 1, 2026 and ending October 21, 2027. The announcement was made by Kotak Mahindra Bank in an official press release, continuing Rajan’s leadership at the private lender.

Rajan has served as part-time chairman since January 1, 2024, following his appointment as an independent director on the bank’s board of directors in October 2022. Ashok Vaswani, Managing Director and CEO, Kotak Mahindra Bank, commenting on the RBI’s approval, said: “Kotak Mahindra Bank is at an exciting moment of growth and transformation. As we navigate our next phase of growth, we look out to the lord. Rajan’s continued leadership and strategic vision, which will help us deliver sustainable value to our stakeholders.”

Expressing his gratitude for the continued trust reposed in him, CS Rajan said, “I am honored to continue serving as Chairman of Kotak Mahindra Bank. I look forward to working closely with the Board of Directors and management to further strengthen the Bank’s position and deliver value to all stakeholders.” Rajan’s reappointment extends a career that includes more than four decades in public sector and corporate leadership.

“Postgraduate in History, is an experienced leader with 46 years of experience in public life. An IAS officer of 1978 batch, Mr. Rajan retired as Principal Secretary to the Government of Rajasthan in 2016. He held leadership positions for 12 years in key infrastructure sectors such as power, highways, water resources and industries, including SSI/MSME, and enjoyed a long period of 14 years in agriculture and rural areas. Development,” the release said.

After his retirement, Rajan continued to play a key role in governance and corporate restructuring. He served as Deputy Chairman of the Chief Minister’s Advisory Council of Rajasthan and later joined the Government of India appointed Board of Infrastructure Leasing and Financial Services Limited (IL&FS) where he held several senior positions including Managing Director and later Non-Executive Chairman until September 2024. Rajan also serves as an Independent Director on the Board of Directors of Kotak Mahindra Life Insurance Company Limited, a wholly owned subsidiary of the Bank.

Published on October 26, 2025