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 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.
The approval comes as the bank continues its search for a permanent non-executive part-time chairman.
1 June 2026
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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.
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.
