The Reserve Bank of India (RBI) has recently given its nod for the appointment of C S Rajan as the part-time Chairman of Kotak Mahindra Bank, marking a significant development for the financial institution. Rajan’s tenure is set to commence on the 1st of January 2024, lasting for a period of two years.
The decision comes as the term of the incumbent part-time Chairman, Prakash Apte, concludes on the 31st of December 2023, according to the official statement released by Kotak Mahindra Bank. Apte’s contributions during his tenure are acknowledged as the bank welcomes C S Rajan to lead the way.
C S Rajan’s association with Kotak Mahindra Bank began when he was appointed as an Independent Director on the Board on the 22nd of October 2022. A retired Indian Administrative Service (IAS) officer from the 1978 batch, Rajan served as the Chief Secretary of the Government of Rajasthan until 2016.
With a career spanning several decades, Rajan boasts a wealth of experience in leadership roles within critical infrastructure sectors. Over a period of 12 years, he played pivotal roles in areas such as Energy, Highways, Water Resources, and Industry, including Small Scale Industries (SSI) and Micro, Small, and Medium Enterprises (MSMEs). Furthermore, he dedicated 14 years to Agriculture and Rural Development, showcasing his commitment to the holistic development of diverse sectors.
In a notable move, the Government of India appointed Rajan to the Board of Infrastructure Leasing and Financial Services Limited (IL & FS) in October 2018. Initially serving as a Director, he progressed to the role of Managing Director for three and a half years. Subsequently, he assumed the position of Chairman & Managing Director for a year before transitioning to his current role as the Non-Executive Chairman of IL & FS.
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