TIDM60CX
RNS Number : 1478Q
HDFC Bank Limited
15 October 2023
CIN: L65920MH1994PLC080618 HDFC Bank Limited,
Email: shareholder.grievances@hdfcbank.com Zenith House,
Website: www.hdfcbank.com Opp. Race Course Gate
no. 5 & 6,
Keshavrao Khadye Marg,
Mahalaxmi, Mumbai- 400034
Tel.: 022 - 3976 0000
/ 07 / 12
October 15, 2023
BSE Limited National Stock Exchange of India Limited
Dept of Corporate Services The Listing Department
Phiroze Jeejeebhoy Towers, Exchange Plaza
Dalal Street, Fort, Bandra Kurla Complex,
Mumbai 400 001 Mumbai 400 051
Scrip Code: 500180 Scrip Symbol: HDFCBANK
Dear Sir / Madam,
Sub: Outcome of Board deliberations on October 15, 2023
In continuation to our intimation dated October 6, 2023, wherein
it was informed that meeting of the Board of Directors of HDFC Bank
Limited ("the Bank") will be held over Sunday, October 15, 2023 and
Monday, October 16, 2023. We wish to inform you that the Board of
Directors of the Bank, at its meeting held today, has considered
and approved the following:
1. Based on the recommendation of the Nomination &
Remuneration Committee, Re-appointment of Mr. Sandeep Parekh (DIN:
03268043) as an Independent Director of the Bank for a period of 3
(three) years from January 19, 2024 to January 18, 2027 (both days
inclusive);
2. Based on the recommendation of the Nomination &
Remuneration Committee, Re-appointment of Mr. M. D. Ranganath (DIN:
07565125) as an Independent Director of the Bank for a period of 3
(three) years from January 31, 2024 to January 30, 2027 (both days
inclusive);
3. Based on the approval received from Reserve Bank of India
vide its communication dated September 18, 2023, in continuation to
our intimation dated September 19, 2023 and pursuant to the
recommendation of the Nomination & Remuneration Committee,
re-appointment of Mr. Sashidhar Jagdishan (DIN: 08614396) as the
Managing Director and Chief Executive Officer of the Bank for a
period of 3 (three) years from October 27, 2023 to October 26, 2026
(both days inclusive).
Mr. Sandeep Parekh, Mr. M. D. Ranganath and Mr. Sashidhar
Jagdishan are not related inter-se or to any other Directors or Key
Managerial Personnel of the Bank. Further, they are not debarred
from holding the office of a director, by virtue of any order
passed by SEBI or any other such authority. Kindly note that the
above re-appointments shall be placed before the shareholders of
the Bank for their approval in due course.
The brief profiles of Mr. Parekh, Mr. Ranganath and Mr.
Jagdishan are enclosed herewith as Annexure-I.
The Board deliberations for the above-mentioned items were
concluded at 6.50 p.m. on October 15, 2023 and the board
deliberations would continue on October 16, 2023 to consider the
unaudited standalone and consolidated financial results for the
second quarter and half year ended September 30, 2023.
You are requested to kindly take the above on your records.
Yours truly,
For HDFC Bank Limited
Santosh Haldankar
Company Secretary
Encl.: as above
cc: London Stock Exchange
10, Paternoster Square
London EC4M 7LS
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Singapore Exchange Securities Trading Limited
2 Shenton Way
# 02-00 SGX Centre 1
Singapore 068804
Annexure - I
(A) Mr. M. D. Ranganath
Mr. M.D. Ranganath holds Master's degree in technology from IIT,
Madras and a Bachelor's degree in Engineering from the University
of Mysore. He is a PGDM from IIM, Ahmedabad and a member of CPA,
Australia. Mr. Ranganath has over thirty two (32) years of
experience in the Global IT services and financial services
industry. He is currently Chairman of Catamaran Ventures. He was
Chief Financial Officer of Infosys Limited, a globally listed IT
services company, till November, 2018. During his tenure of 18
years at Infosys, he was an integral part of the growth and
transformation of Infosys into a globally respected IT services
company and effectively played leadership roles in a wide spectrum
of areas- Strategy, Finance, Merger & Acquisition (M&A),
Consulting, Risk Management, and Corporate planning- culminating in
the role of Chief Financial Officer. Prior to Infosys, he worked at
ICICI Limited for 8 years and executed responsibilities in credit,
treasury, equity portfolio management and corporate planning. In
the years 2017 and 2018, Mr. Ranganath was the recipient of the
Best CFO Asia award in the technology sector, by Institutional
Investor publication, based on poll of buy-side and sell-side
investor community.
(B) Mr. Sandeep Parekh
Mr. Sandeep Parekh holds an LL.M. (Securities and Financial
Regulations) degree from Georgetown University and an LL.B. degree
from Delhi University. He is the managing partner of Finsec Law
Advisors, a financial sector law firm based in Mumbai. He was an
Executive Director at the Securities & Exchange Board of India
during 2006-08, heading the Enforcement and Legal Affairs
departments. He is a visiting faculty at the Indian Institute of
Management, Ahmedabad. He has worked for law firms in Delhi, Mumbai
and Washington, D.C. Mr. Parekh focuses on securities regulations,
investment regulations, private equity, corporate governance and
financial regulations. He is admitted to practice law in New York.
He was recognized by the World Economic Forum as a "Young Global
Leader" in 2008. He was Chairman and member of various SEBI and RBI
Committees and sub-Committees. He sits on the Advisory Committee of
School for Regulatory Studies & Supervision (SRSS) of National
Institute of Securities Market (NISM). He has published op-eds in
the Financial Times and the Economic Times.
(C) Mr. Sashidhar Jagdishan
Mr. Sashidhar Jagdishan is the Managing Director & Chief
Executive Officer of the Bank has an overall experience of thirty
(31) years. He has completed his graduation in Science with
specialization in Physics, is a Chartered Accountant by profession
and holds a Master's degree in Economics of Money, Banking &
Finance from the University of Sheffield, United Kingdom. Mr.
Jagdishan joined the Bank in the year 1996 as a Manager in the
Finance function. He became Business Head - Finance in 1999 and was
appointed as Chief Financial Officer in the year 2008. He played a
critical role in supporting the growth trajectory of the Bank, and
led the finance function with a pivotal role in aligning the
organization in achieving the strategic objectives over the
years.
Prior to his appointment as Managing Director & Chief
Executive Officer of the Bank, he was the Group Head of the Bank in
addition to overseeing the functions of Finance, Human Resources,
Legal & Secretarial, Administration, Infrastructure, Corporate
Communications and Corporate Social Responsibility.rrom
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