November 27, 2023
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sir/ Madam,
Sub: Appointment of Additional Independent Director and appointment of Executive Director
We wish to inform you that pursuant to the recommendations of the Nomination & Remuneration Committee, the Board of Directors of HDFC Bank Limited
(the Bank) at its meeting held today, has approved the appointment of Dr. Harsh Kumar Bhanwala (DIN: 06417704) as an Additional Independent Director of the Bank for a period of 3 (three) consecutive years from January 25, 2024
to January 24, 2027 (both days inclusive), not liable to retire by rotation, subject to the approval of the shareholders of the Bank. Dr. Bhanwala is not related to any other Director or Key Managerial Personnel of the Bank.
Further, in continuation to our intimation dated June 30, 2023 and November 23, 2023, the Board has approved the appointment of Mr. V.
Srinivasa Rangan (DIN: 00030248) as Executive Director (i.e., Whole-time Director) of the Bank for a period of 3 (three) years w.e.f. November 23, 2023, subject to the approval of the shareholders of the Bank.
The above appointments shall be placed before the shareholders of the Bank for their approval in due course. Further, Dr. Bhanwala and Mr. Rangan
are not debarred from holding the office of a director, by virtue of any SEBI order or any other such authority.
A brief profile of Mr. Bhanwala is
given below:
Dr. Harsh Kumar Bhanwala was the Executive Chairman of Capital India Finance Limited, an NBFC. Prior to that, from 2013 to 2020,
Dr. Bhanwala was the Chairman of the National Bank for Agriculture and Rural Development (NABARD), the Government of Indias apex development bank, which oversees all aspects of agricultural credit as well as the supervision of regional
rural banks and cooperative banks. Dr. Bhanwala began his career at NABARD and worked there for almost three decades. Prior to leading NABARD, he was the Chairman & Managing Director of the India Infrastructure Finance Company (IIFCL),
Senior Vice President at IL&FS Water, and the Managing Director of the Delhi State Cooperative Bank. Dr. Bhanwala earned a B.Sc. in Dairy Technology from the National Dairy Research Institute Karnal, an MBA from IIM Ahmedabad, and a
PhD in Management from Maharshi Dayanand University.
A brief profile of Mr. Rangan is given below:
Mr. V. Srinivasa Rangan was the Executive Director and Chief Financial Officer of erstwhile Housing Development Finance Corporation Limited. He holds a
Bachelors degree in Commerce from University of Delhi and is an Associate of The Institute of Chartered Accountants of India (ICAI).
He is an expert
in finance, accountancy, audit, economics, corporate governance, legal & regulatory compliance, risk management and strategic thinking. He has vast experience in housing finance and real estate sector. Mr. Rangan has worked on
international consulting assignments in housing finance in Ghana and the Maldives.
He has been a member of various committees related to financial
services such as RBIs Committee on Asset Securitisation and Mortgage Backed Securitisation, Technical Group formed by National Housing Bank (NHB) for setting up of a Secondary Mortgage market Institution in India, NHBs Working Group on
Covered Bonds and NHBs Working Group on Credit Enhancement Mechanism.
Mr. Rangan was conferred the Best CFO in the Financial Sector for
2010 by ICAI. He was also honoured with Lifetime Achievement Award at the sixth edition of Financial Express CFO Awards 2023.
You are
requested to kindly take the above on your records.
Yours faithfully,
For HDFC Bank Limited
Sd/-
Santosh Haldankar
Company Secretary