Management Changes

Appointment: Mr. Hardik Thaker has been appointed as Chief Information Security Officer (CISO) and designated as Senior Management Personnel (SMP) with effect from October 30, 2026.

Resignation: Mr. Nitin Chauhan has resigned from the position of CISO, consequent to which he ceases to be SMP. The Bank has accepted his resignation. His last working day with the Bank will be April 23, 2027. Mr. Chauhan stated he is resigning to pursue other professional opportunities outside the Bank.

Profile of New CISO

Mr. Hardik Thaker's professional background includes:

  • Current role: Deputy Chief Information Security Officer at IDFC FIRST Bank, leading cybersecurity transformation initiatives
  • Nearly two decades of experience across banking, financial services, regulatory institutions, and global consulting
  • Expertise areas: cybersecurity transformation, AI, technology and cyber risk, cyber resilience, and cloud security

Previous Experience:

  • Executive Director, Enterprise Security & Resilience at GXS Bank, Singapore (contributed to building security capabilities for greenfield digital banks in Singapore and Malaysia)
  • Security leadership and architecture role with Monetary Authority of Singapore (Singapore's financial regulator) with responsibilities spanning critical information infrastructure protection and security architecture design for commercial cloud adoption
  • Led IBM's Security Strategy, Risk & Compliance practice across ASEAN
  • Worked with Deloitte and KPMG advising clients on cybersecurity maturity, including engagements associated with Government of India's National e-Governance Plan (NeGP)

Professional Qualifications:

  • Certified Information Security Manager (CISM)
  • ISO 27001 Lead Auditor
  • MBA in Finance from Gujarat University
  • Degree in Mechanical Engineering

Industry Contributions:

  • Association of Banks in Singapore's Standing Committee
  • ISACA's Emerging Technology Advisory Group
  • ISACA's India Advocacy Task Force

Transition Details

Mr. Nitin Chauhan stated in his resignation letter dated October 26, 2026, that he will ensure a smooth, structured, and professional transition of responsibilities in accordance with the Bank's applicable policies and processes. He noted meaningful improvements achieved during his tenure across regulatory compliance, technology, and the Bank's overall cybersecurity posture, including strengthening of security controls, improvements in cyber resilience, and positive recognition from regulators.