The Reserve Bank of India (RBI) has granted a three-month extension to Keki Mistry's tenure as the interim Part-time Chairman of HDFC Bank, India's largest private sector lender. This approval ensures continuity in the bank's leadership until a permanent chairman is appointed.
According to a regulatory filing by HDFC Bank, Mistry will continue in the role until September 18, 2026, or until a regular Part-time Chairman is appointed, whichever occurs earlier. This decision follows an application submitted by the bank seeking the extension.
HDFC Bank's Annual General Meeting and Dividend Proposal
In addition to the chairman's extension, HDFC Bank's board has also scheduled its 32nd Annual General Meeting (AGM) for August 5, 2026. The meeting will be conducted virtually via two-way video conferencing, commencing at 2:00 PM IST.
Shareholders attending the AGM will consider a proposal for a dividend of ₹13 per equity share (face value Re 1) for the financial year that concluded on March 31, 2026. If approved by shareholders, the dividend payment is expected to be disbursed on or after August 6, 2026.
Keki Mistry's Role and Background
Keki Mistry, who also serves as a non-executive director on HDFC Bank's board, was initially appointed interim Part-time Chairman earlier this year as the bank began the process of identifying a permanent chairman. His continued presence provides stability at the board level during this transition.
Mistry is a highly respected figure in Indian banking, known for his extensive history with the HDFC group. Before the merger of Housing Development Finance Corporation (HDFC Ltd.) with HDFC Bank, he held the position of Vice Chairman and CEO of HDFC Ltd., playing a pivotal role in the group's growth and governance structure.
HDFC Bank remains committed to upholding strong governance standards and ensuring a seamless leadership transition as it moves forward with the appointment of its permanent chairman.