Niti Aayog's Rajiv Kumar resigns from DHFL board

Niti Aayog Vice Chairman Rajiv Kumar has resigned from the board of Dewan Housing Finance Corporation (DHFL) as independent director post his appointment at the government think tank.

"Dr Rajiv Kumar as independent director on the board of the company since August 7, 2015 has expressed his desire to resign from the position of an independent director vide his letter dated September 4, 2017 due to his appointment as Vice Chairman Niti Aayog," DHFL said in a regulatory filing.

DHFL said the board of directors of the company have accepted his resignation with effect from September 11, 2017.

Kumar, an economist took over as the Niti Aayog vice chair from September 1, replacing Indian-American economist Arvind Panagariya who returned to academia in the US.

Earlier, Kumar also served as chief economist at industry body Confederation of Indian Industries (CII), besides holding senior positions at the Ministry of Finance and Manila- headquartered multi-lateral funding agency Asian Development Bank.

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