RBI has extended Keki Mistry’s interim tenure as HDFC Bank’s part-time chairman until September 18, 2026 or until a permanent appointment is made.
The bank has also scheduled its 32nd AGM for August 5, 2026, and proposed a dividend of ₹13 per share for FY26.
The developments come amid an ongoing search for a regular non-executive chairman, as per regulatory expectations.
HDFC Bank Gets RBI Nod for Interim Chairman Keki Mistry’s 3-Month Extension
RBI approves a three-month extension for Keki Mistry as interim part-time chairman of HDFC Bank, while the lender also sets August 5 for its 32nd AGM
Keki Mistry
Summary
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HDFC Bank said on Thursday that the Reserve Bank of India (RBI) has approved a three-month extension of Keki Mistry’s tenure as interim part-time chairman. The extension will now be valid until September 18, 2026, or until a regular chairman is appointed, whichever happens earlier.
According to a Moneycontrol report, the approval comes as the bank continues its search for a permanent non-executive part-time chairman.
Moneycontrol reported yesterday that RBI had asked HDFC Bank’s board to speed up the search for a non-executive part-time chairman. The regulator is understood to be wary that some important decisions may get delayed in the absence of a permanent board chairman. The process of identifying a new chairman is expected to conclude by the end of June.
Chairman Search Picks Up Pace
The bank's nomination and remuneration committee (NRC) has referred a few names to the board for consideration. Discussions have reportedly been held with some senior former officials and former bankers, though no candidate has been finalised yet.
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Under RBI norms, the chairman of a bank's board must be a non-executive and independent director. The formal search is believed to have started in late April, nearly a month after former chairman Atanu Chakraborty stepped down on March 18.
AGM Scheduled, ₹13 Dividend Proposed
Alongside the leadership update, HDFC Bank announced that its 32nd Annual General Meeting (AGM) will be held on August 5, 2026, at 2:00 PM IST via video conferencing. The AGM will consider several agenda items, including the approval of dividend for the financial year ended March 31, 2026.
The board has recommended a dividend of ₹13 per equity share of face value ₹1 each, subject to shareholder approval at the AGM. If approved, the dividend will be paid on or after August 6, 2026.