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New Delhi: HDFC Bank has appointed Rajiv Kumar, who until last year headed Election Commission of India (ECI), as its new chairman for a four-year term. Kumar oversaw the 2024 Lok Sabha elections during his time as the Chief Election Commissioner (CEC).

The bank’s board has cleared Kumar’s appointment as an independent director for four years starting on June 30. It also cleared the appointment, including remuneration of Kumar as a part-time chairman of the bank for a period of three years, effective from the date as approved by the RBI, the bank said in a filing.

The position was vacant since March after Atanu Chakraborty resigned abruptly over “ethical concerns”.

“Certain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal values and ethics,”........

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