C S Rajan to be part-time chief of Kotak Mahindra Bank

RBI has approved the appointment of C S Rajan as the part-time Chairman of Kotak Mahindra Bank for a period of two years, effective 1st January 2024.

The incumbent part-time Chairman, Prakash Apte’s term expires on 31st December 2023, per the Bank’s statement.

Rajan was appointed as an Independent Director on the Board of the Bank, with effect from 22nd October 2022. An IAS officer of 1978 batch, he retired as Chief Secretary of the Government of Rajasthan in the year 2016.

He served in leadership roles for 12 years in key Infrastructure sectors such as Energy, Highways, Water Resources and Industry including SSI/MSME and worked for 14 years in Agriculture and Rural Development, the Bank said.