HDFC Bank Board Approves 3-Year Extension for Kaizad Bharucha as Deputy MD
HDFC Bank’s board has approved the re-appointment of Kaizad Bharucha as Deputy Managing Director for three years, pending regulatory and shareholder approvals.
Key Takeaways
- Kaizad Bharucha’s tenure extended as Deputy MD for 3 years
- Approval subject to RBI clearance and shareholder consent
- Bharucha oversees both retail and wholesale banking segments
Regulatory Approval Process
The board’s decision requires approval from the Reserve Bank of India for a three-year period, followed by shareholder consent, according to the bank’s regulatory filing.
Bharucha’s Banking Career
Bharucha was initially appointed as executive director of HDFC Bank on June 13, 2014, with RBI approval. As Deputy Managing Director, he provides strategic direction to the bank’s assets franchise.
Responsibilities and Portfolio
Bharucha’s oversight includes retail asset products such as home loans, auto loans, two-wheeler loans, personal loans, and business loans. His portfolio also covers rural banking, sustainable livelihood initiatives, MSME, SME, and transportation group operations.
In the wholesale banking segment, he manages the emerging corporate group, healthcare finance, and corporate banking divisions.
