HDFC Bank Limited submitted a regulatory disclosure under Regulation 30 of SEBI Listing Requirements regarding board appointments and governance changes approved at its board meeting held on September 12, 2026.

The Board of Directors approved the following actions based on recommendations of the Governance, Nomination and Remuneration Committee and pursuant to the Banking Regulation Act, 1949 and Reserve Bank of India (Commercial Banks - Governance) Directions, 2025:

Key Appointments Requiring RBI Approval:

  • Submission of two candidate names in order of preference for appointment as Managing Director & Chief Executive Officer for a period of three years, with proposed remuneration
  • Re-appointment of Mr. V. Srinivasa Rangan (DIN: 00030248) as Whole-time Director (designated as Executive Director) with remuneration, effective from November 23, 2026 to November 22, 2027
  • Appointment of Mr. Jimmy Tata (DIN: 06888364) as Whole-time Director (designated as Executive Director) with remuneration, for a period of three years effective from RBI approval date or date specified by RBI

Board Structure Change:

  • Creation of one additional Whole-time Director position, increasing total Whole-time Directors to four (in addition to MD & CEO)
  • Purpose: To achieve sharper synergy and oversight, including on bank subsidiaries, and create larger pipeline for succession planning
  • The additional position will be filled in consultation with the new Managing Director & Chief Executive Officer after he/she takes charge

Governance Details:

  • None of the appointed persons are related to each other or to any other Director/Key Managerial Personnel
  • None are debarred from holding director office by SEBI or any other authority
  • Necessary shareholder approvals will be sought in due course after RBI approvals

Profile - Mr. V. Srinivasa Rangan:

  • Age: 66 years
  • Current Position: Executive Director of HDFC Bank
  • Responsibilities: Heads Human Resources, Corporate Legal, Group Oversight & Secretarial, Investment Banking, Information Security Group, Ethics Function, and Fraud & Vigilance functions
  • Education: Bachelor's degree in Commerce from University of Delhi, Associate of Institute of Chartered Accountants of India
  • Previous Role: Executive Director & Chief Financial Officer of HDFC Limited prior to its amalgamation with HDFC Bank effective July 1, 2023
  • Expertise: Finance, accountancy, audit, economics, corporate governance, legal & regulatory compliance, risk management, strategic thinking
  • Experience: Extensive experience in housing finance and real estate sector, international consulting assignments in Ghana and Maldives
  • Committee Memberships: RBI's Committee on Asset Securitisation and Mortgage Backed Securitisation, NHB Technical Group for Secondary Mortgage market Institution, NHB Working Group on Covered Bonds, NHB Working Group on Credit Enhancement Mechanism
  • Awards: "Best CFO in the Financial Sector for 2010" by ICAI, "Lifetime Achievement Award" at Financial Express CFO Awards 2023
  • Current Directorships: Credila Financial Services Limited, HDFC Asset Management Company Limited
  • Bank Committee Memberships: IT Strategy Committee, Stakeholders' Relationship Committee, Premises Committee, Committee for Resolution of NCLT Matters

Profile - Mr. Jimmy Tata:

  • Education: Master of Financial Management from Jamnalal Bajaj Institute of Management, Chartered Financial Analyst from Institute of Chartered Financial Analyst of India
  • Experience: 35+ years in Banking and Financial sector
  • Career History:
  • 1987: Consultant in Strategic Consultants Pvt Ltd
  • 1989: Joined Apple Industries Ltd, last position as Head of Wholesale Leasing and Hire Purchase Division
  • 1994: Joined HDFC Bank as Relationship Manager in Corporate Banking Department
  • Promoted to Head of Corporate Banking Department
  • June 2013: Appointed Chief Risk Officer of HDFC Bank
  • Current Position: Chief Credit Officer of HDFC Bank
  • Current Directorships: Director (nominee of HDFC Bank) on boards of International Asset Reconstruction Co. Pvt. Ltd, HDB Financial Services Ltd (subject to RBI approval), and HDFC Trustee Company Limited

The disclosure references SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, with additional details to be submitted after receipt of requisite approvals.