Board Approves Part Time Chairperson and New Independent Director Appointments

The Board approved two appointments at its meeting on September 28, 2026.

Mon 28 Sep 2026

Part Time Chairperson Appointment

Mrs. Rachna Dikshit, effective January 30, 2027 for 3 years, subject to shareholder and RBI approval

Additional Director Appointment

Mr. Joseph Conrad Agnelo D'souza, effective September 28, 2026 for 5 years, subject to shareholder approval within three months

Appointee Background - Dikshit

Former Chief General Manager at RBI, Independent Director since June 26, 2023

Appointee Background - D'souza

39+ years at HDFC Limited in Strategy, Treasury, Operations, Investor Relations and New Initiatives

What was decided

The Board of Directors met on September 28, 2026 and, based on the recommendation of the Nomination and Remuneration Committee, approved two appointments.

• Mrs. Rachna Dikshit (Non-Executive Independent Director) as Part Time Chairperson with effect from January 30, 2027 for a period of 3 years, subject to the approval of shareholders and the Reserve Bank of India.
• Mr. Joseph Conrad Agnelo D'souza as an Additional Director (Non-Executive Independent Director) with effect from September 28, 2026 for a period of 5 years, subject to shareholder approval to be obtained within three months.

About Mrs. Rachna Dikshit

She has been an Independent Director of the Bank since June 26, 2023. She holds a bachelor's degree in arts from Lucknow University and a master's degree in arts from the University of Allahabad, and is a certified associate of the Indian Institute of Bankers. She was previously Chief General Manager at the Reserve Bank of India, and has served as Regional Director for Punjab, Haryana and UT Chandigarh, and as General Manager in the Financial Inclusion & Development Department and the Department of Banking Regulation.

Her other associations include Propshare Investment Manager Private Limited, India Shelters Finance Corporation Limited, India SME Asset Reconstruction Company Limited, Arthimpact Digital Loans Private Limited, Miracle Foundation India and Physicswallah Limited.

About Mr. Joseph Conrad Agnelo D'souza

He holds a Master's Degree in Commerce, a Master's Degree in Business Administration, a Diploma in Financial Management and is a Senior Executive Programme graduate of the London Business School. He has over four decades of experience in banking and financial services, including a leadership role at HDFC Limited across Strategy, Treasury, Operations, Investor Relations and New Initiatives. He was Member of Executive Management and Chief Investor Relations Officer at HDFC Limited and earlier its Treasurer, over a 39+ year tenure. He has worked on assignments for multilateral agencies in Asia, Africa and Eastern Europe and helped set up mortgage companies in Bangladesh, Sri Lanka, Egypt, Maldives and Tanzania.

His other associations include Motilal Oswal Financial Services Limited, Chalet Hotels, Bharat Bijlee Limited, Prism Johnson Limited, Asianet Satellite Communications Limited, Camlin Fine Sciences Limited, Niwas Housing Finance Limited, Raheja QBE General Insurance Company Limited and Avendus Finance Limited.

Other details

• Shareholding in the Bank: Nil for both appointees.
• There is no inter-se relationship between either appointee and any other Director of the Bank.
• Both are confirmed as not debarred from holding the office of director by any SEBI or other authority order.
• The Board meeting commenced at 03:00 p.m and concluded at 05:45 p.m.

How to read this

This is a governance and leadership-structure update rather than a business or financial development. For a small finance bank, the Part Time Chairperson appointment also needs Reserve Bank of India clearance, so it is effective only once those approvals come through. An Additional Director must be confirmed by shareholders within three months of appointment.

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