Nature of change: Appointment of Senior Management Personnel
Name and details: Rahul Shukla appointed as Group Head, Commercial and Bharat Banking
Effective date: October 19, 2026
Employment term: Full-time employment
Profile: Rahul Shukla, aged 57 years, is an accomplished banking leader with over three decades of experience spanning Wholesale, Corporate, Investment, Commercial and Rural Banking across India and Asia. At HDFC Bank, he led the Commercial & Rural Banking group, having earlier led Wholesale Banking. Prior to HDFC Bank, Rahul held senior leadership roles at Citi, including Head of the South Asia Corporate Bank and Asia-Pacific TMT Investment Banking. He brings deep expertise in managing large banking franchises, business strategy and franchise building, with a consistent track record of scaling businesses, improving returns and building market-leading positions.
Education: MBA from IIM Bangalore and B.Tech. (Electrical Engineering) (Hons.) from IIT Varanasi
Responsibilities: Will head Commercial and Bharat Banking, with responsibility to accelerate growth, deepen customer relationships and strengthen the Bank's presence across these businesses
Management level: Part of the Senior Management of the Bank
Relationship disclosure: No relationship between directors disclosed (NA)
Governance and Approval Process
Approval authority: Board of Directors of the Bank
Meeting date: October 17, 2026
Committee recommendation: Based on recommendations of the Nomination and Remuneration Committee
Meeting timing: Commenced at 9.00 am (IST) and agenda approved at 2.00 pm (IST)
Regulatory compliance: Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Reference circular: SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026
