The Reserve Bank of India has granted a crucial three-month extension to Keki Mistry’s tenure as interim chairman of HDFC Bank, ensuring leadership continuity until September 18, 2026, following the recent resignation of the previous non-executive chairman.
Key Points
- The Reserve Bank of India (RBI) has approved a three-month extension for Keki Mistry as HDFC Bank’s interim chairman, effective until September 18, 2026.
- Mistry’s initial appointment as interim chairman followed the resignation of former non-executive chairman Atanu Chakraborty on March 18.
- Chakraborty had cited concerns over the bank’s functioning and practices not aligning with his “personal values and ethics” as reasons for his resignation.
- HDFC Bank’s board has also approved convening its 32nd Annual General Meeting (AGM) on August 5, which will include approving a dividend of Rs 13 per equity share.
- Keki Mistry previously served as Vice Chairman & Chief Executive Officer of Housing Development Finance Corporation Limited (HDFC Limited) before its merger with HDFC Bank.
HDFC Bank on Thursday said the Reserve Bank has approved the extension of Keki Mistry’s tenure as interim chairman for three months till September 18.
Mistry, a veteran of the HDFC Bank Group, was appointed as the interim chairman on March 18, following resignation of the bank’s non-executive chairman Atanu Chakraborty.
Chakraborty had resigned from the bank raising concerns over its functioning, and said that certain practices within the bank over the last two years are not in “congruence” with his “personal values and ethics”.
RBI’s Approval and Board Decisions
In a regulatory filing on June 18, HDFC Bank said it had made an application to the RBI seeking extension of Mistry’s tenure.
“… the RBI, vide its communication dated June 18, 2026, has granted approval for the extension of tenure of Keki Mistry as an interim Part-time Chairman of the Bank for a further period of 3 (three) months until September 18, 2026 or till appointment of a regular Part-time Chairman, whichever is earlier,” HDFC Bank said in a regulatory filing.
Further, HDFC Bank board has approved convening of the 32nd Annual General Meeting (AGM) of the Bank on August 5. The AGM will approve the payment of a dividend of Rs 13 per equity share for the year ended March 31, 2026.
Mistry’s Extensive Experience
Mistry is currently a Director on the Board of HDFC Life Insurance Company, HDFC ERGO General Insurance Company, Tata Consultancy Services, HDFC Capital Advisors, The Great Eastern Shipping Company, KATB Consultant Pvt Ltd, Brookprop Management Services Pvt Ltd, and Flipkart Internet Private Ltd.
He was the Vice Chairman & Chief Executive Officer of Housing Development Development Finance Corporation Limited (HDFC Limited) prior to its amalgamation with the bank with effect from July 1, 2023.
Shares of HDFC Bank closed at Rs 798.55, up 1.49 per cent over the previous close on BSE.
