The Reserve Bank of India (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 1 st 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.