Niti Aayog's Rajiv Kumar resigns from DHFL board

Niti Aayog Vice Chairman Rajiv Kumar has resigned from his post of independent director in the board of Dewan Housing Finance Corporation (DHFL), the third largest home loan & housing finance company in India.

Created On: Sep 14, 2017 11:16 IST
Niti Aayog's Rajiv Kumar resigns from DHFL board
Niti Aayog's Rajiv Kumar resigns from DHFL board

Niti Aayog Vice Chairman Rajiv Kumar has resigned from his post of independent director in the board of Dewan Housing Finance Corporation (DHFL), the third largest home loan & housing finance company in India.

The move came after Kumar got the top post at Niti Aayog, the government think tank.

DHFL in an official notice stated that “Dr. Rajiv Kumar as an independent director on the board of the company since 7 August 2015 has expressed his desire to resign from the position of an independent director through his letter dated 4 September 2017 due to his appointment as Vice Chairman Niti Aayog.”

The corporation further stated that the board of directors of the company has accepted Kumar’s resignation with effect from 11 September 2017.

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About Rajiv Kumar

• The noted economist was appointed to the position of Niti Aayog Vice Chairman on 5 August 2017, succeeding Arvind Panagariya, who announced his sudden decision to resign in order to return to the field of academics in the US.

• Kumar officially took over the position on 1 September 2017.

• Previously, Kumar served as the chief economist of the Confederation of Indian Industries (CII) and has held several senior positions at the Ministry of Finance, Indian Ministry of Industries and the Asian Development Bank.

• He has also previously served as the Director and Chief Executive of the Indian Council for Research on International Economic Relations (ICRIER) and been a board member of several international and national institutions including the King Abdullah Petroleum Studies and Research Center in Riyadh, the Economic Research Institute for ASEAN and Asia in Jakarta, the State Bank of India, and the Indian Institute of Foreign Trade.

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