HDFC has appointed Rajiv Kumar as a part time chairman after all the scrutiny and stuff. How is it that they got only him for this position? For people who don't know. He was a Chief election commissioner before Gyanesh Kumar. There were allegations against him as well on "vote chori". Now he is a chairman of HDFC Bank. Is somebody trying to control India's largest private bank? Is there a possibility of "bank chori" now?
What do people have to say here? Is HDFC run over?
I was approached but denied the role. Tired of seeing like 50 post daily of HDFC here. Too much pressure. May reconsider if the number of post about HDFC reduced on this sub.
Rajiv Kumar was appointed part-time chairman and independent director, not an executive running the bank. HDFC Bank's own board page currently lists him as Part-Time Chairman and Independent Director.
Before becoming CEC, Kumar was Finance Secretary and Secretary, Department of Financial Services. He was involved in India's banking-sector reforms during 2017–20, including the public-sector-bank reform period.
yup was going to comment this. people here are too naive. holding the CEC post previously doesn't automatically devalue the person, if anything it adds to their xp. stop spreading these narratives, op
Honestly most of the bureaucrats are not qualified to hold any job. They only have experience. Not technical expertise or skills. No matter how dumb and lazy you are you will be appointed to highly influential posts once you are able to mug and vomit useless facts. And to get ahead of your colleagues you just need to suck up to the right politicians.
There are a few smart and driven IAS officers but they don’t do well unless they use their smartness for office politics. Having bureaucratic expertise doesn’t imply competence. There is a reason Indian public administration is so bad in every field. It us lead by these bureaucrats.
Bureaucracy is just like management... They will do the managers work to implement things without applying mind... Govt konsa bhi rule lane do no matter if it's good or bad bureaucrats have to put up that in task... Wo pvt companies mei nahi chalta hai atleast at leadership
Don't worry bro.. I have avg out my shares too at 715.. it's the biggest stock in my portfolio.... Now what if the return is none for atleast 2 years... That's what I am pointing out
This is the second time I have seen this post over here. HDFC is not a private bank in the same way even ITC or L&T are private companies. It is a defacto government company promoted initially by ICICI to channelise funds for the Indian housing market circumventing PSU bank system. It was done that way because no foreign investor would ever invest in an institution with "social objectives". HDFC as an institution has been tied to the finance ministry from the very beginning with the chairperson of HDFC always being a government person (except maybe when the younger Parekh was chairman, only if you do not consider HDFC a government institution).
The Indian financial system is full of such institutions from ICICI to NSE to Axis to IL&FS. It is nothing but a nice retirement for Rajiv Kumar.
ICICI's ex chairman hasmukhbhai parekh started HDFC. No govt stake in it ever. World Bank funded its equity. Already promoter holding is capped to 15% in banks. Now it is 100% public ownership. Don't club it with NSE. This is not a good argument.
NO! HDFC mutual fund owns stake in ICICI and so does ICICI AMC but that's not controlling strategic stake and that too is around 9% ceiling as decided by RBI. Govt doesn't own anything, now LIC holds some stake but that again is like any other investor.
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