HDB Financial Services Limited submitted a regulatory disclosure to the National Stock Exchange of India Limited and BSE Limited regarding board composition changes approved on October 22, 2026.

The disclosure was made pursuant to Regulation 30 and 51 read with Part A and Part B of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The Board of Directors approved the following changes based on the recommendation of the Nomination and Remuneration Committee and subject to shareholder approval:

Director Appointments/Reappointments

Mr. Jayesh Chakravarthi (DIN: 08345495)

  • Action: Re-appointment as Independent Director
  • Term: Five consecutive years from January 25, 2027 to January 24, 2032 (both days inclusive)
  • Qualifications: Bachelor's degree in engineering from Bangalore University, MBA in General Management from Jamnalal Bajaj Institute of Management Studies
  • Experience: Over 33 years in Information Technology, including leadership positions at Wipro (1987-1994), Sun Microsystems (1994-2000), MindTree Consulting (2000-2005), and Fidelity Investments (2005-2018)
  • Current Role: CEO and co-founder of Recast Technologies Pvt. Ltd.
  • Relationships: Not related to any other Directors or Key Managerial Personnel of the Company
  • Debarment Status: Not debarred from holding director office by any SEBI Order or authority

Ms. Arundhati Mech (DIN: 09177619)

  • Action: Re-appointment as Independent Director
  • Term: Three consecutive years from February 11, 2027 to February 10, 2030 (both days inclusive)
  • Qualifications: Master's degree in arts (linguistic) from Jawaharlal Nehru University, New Delhi
  • Experience: Over 38 years in finance sector, former RBI official retiring as regional director
  • Current Directorships: Independent Director on boards of Shivalik Small Finance Bank Limited, AFCOM Holdings Limited, and Shriram Trustees Limited
  • Relationships: Not related to any other Directors or Key Managerial Personnel of the Company
  • Debarment Status: Not debarred from holding director office by any SEBI Order or authority

Mr. Jimmy Tata (DIN: 06888364)

  • Action: Appointment as Additional (Non-Executive) Director (Nominee of HDFC Bank Limited)
  • Term: From October 22, 2026 to July 31, 2028 (both days inclusive)
  • Qualifications: Master's in financial management from Jamnalal Bajaj Institute of Management Studies, qualified Chartered Financial Analyst
  • Experience: Over 38 years of experience, including 32 years with HDFC Bank since 1994. Previously held positions as Head of Corporate Banking Department, Chief Risk Officer (June 2013), and Chief Credit Officer (December 2020)
  • Current Roles: Nominee Director on board of International Asset Reconstruction Company Private Limited and HDFC Trustee Company Limited
  • Relationships: Not related to any other Directors or Key Managerial Personnel of the Company
  • Debarment Status: Not debarred from holding director office by any SEBI Order or authority