Kotak Mahindra Bank Limited informed that, based on application made to the Reserve Bank of India ("RBI") for its approval, the RBI has, vide its letter dated December 26, 2023 (received by the Bank on December 26, 2023), approved the appointment of Mr. C S Rajan, an Independent Director on the Board of the Bank, as the Part-Time Chairman of theBank in terms of Section 10(B)(1A)(i) of the Banking Regulation Act, 1949, for a period of two years, with effect from January 1, 2024. The profile of Mr. C. S. Rajan is, as under: Mr. C S Rajan is a successful leader with over 40 years of experience across significant government portfolios. He was appointed as an Independent Director on the Board of the Bank, with effect from October 22, 2022.

An IAS officer of 1978 batch, he retired as Chief Secretary of the Government of Rajasthan in the year 2016. He served in leadership roles for 12 years in key Infrastructure sectors such as Energy, Highways, Water Resources and Industry including SSI/MSME and worked for 14 years in Agriculture and Rural Development. During his 38 years of service in the IAS he has also acquired experience in the fields of Human Resources, Finance and General Administration.

He has served on inter-disciplinary teams for review of World Bank projects in other States and also as a Consultant to the World Bank in a Study on `Farmer Participation in Agricultural Research and Extension System'. After his retirement from active service in July 2016, he served as Deputy Chairman in the Chief Ministers' Advisory Council of Rajasthan for a period of two and half years. In October 2018, Mr. Rajan was appointed by the Government of India on the Board of Infrastructure Leasing and Financial Services Limited ("IL & FS") initially as Director, thereafter as Managing Director for a period of three and half years, then as Chairman & Managing Director for a year and, since then, he has been serving as the Non-Executive Chairman of IL & FS.