​Kotak Mahindra Bank announced today that the Reserve Bank of India (RBI) has approved the appointment of C S Rajan, Independent Director of the Bank, as the Part-time Chairman. The approval is effective from 1st January 2024, marking a two-year tenure. Rajan has over 40 years of experience in various government portfolios. He assumed the role of Independent Director on the Bank's Board on 22nd October 2022. A retired IAS officer of the 1978 batch. He is also chairman of the government appointed board of the IL&FS.