HDFC Bank Limited – Board Resolutions (NSE: HDFCBANK, BSE: 500180)

Introduction

On 12 September 2026, HDFC Bank Limited submitted a Regulation 30 disclosure to the National Stock Exchange of India Limited (NSE) and BSE Limited outlining several board‑level appointments and structural changes approved by its Board of Directors.

Key Board Decisions

1. Appointment of Managing Director & Chief Executive Officer

• The Board has recommended two candidates (in order of preference) for the role of Managing Director & Chief Executive Officer (MD & CEO).
• The proposed remuneration and three‑year term will be submitted to the Reserve Bank of India (RBI) for approval.

2. Re‑appointment of Mr. V. Srinivasa Rangan

• Position: Whole‑time Director (Executive Director)
• DIN: 00030248
• Remuneration: As approved by the Board (details to be filed later).
• Term: 23 Nov 2026 – 22 Nov 2027.

3. Appointment of Mr. Jimmy Tata

• Position: Whole‑time Director (Executive Director)
• DIN: 06888364
• Remuneration: As approved by the Board (details to be filed later).
• Term: Three years, effective from the date of RBI approval (or any other date specified by RBI).

4. Creation of an Additional Whole‑time Director Position

• The Board approved the creation of one more Whole‑time Director seat, raising the total number of Whole‑time Directors (excluding the MD & CEO) to four.
• The new seat will be filled in consultation with the incoming MD & CEO after that individual assumes charge.
• This move is aimed at enhancing synergy, oversight of subsidiaries, and succession planning.

5. Shareholder Approval

• The necessary shareholder approvals for the above appointments and the new director position will be sought in due course.

Regulatory & Compliance Process

• All proposals are being forwarded to the RBI for its requisite approvals, as mandated by the Banking Regulation Act, 1949 and RBI’s Commercial Banks – Governance Directions, 2025.
• Detailed remuneration and other disclosures required under Regulation 30 of the SEBI Listing Regulations will be submitted after receipt of RBI approvals.

Profiles of the Appointed Directors

Mr. V. Srinivasa Rangan (DIN: 00030248)

• Age: 66 years
• Current Role: Executive Director, overseeing HR, Corporate Legal, Group Oversight & Secretarial, Investment Banking, Information Security, Ethics, and Fraud & Vigilance functions.
• Education: B.Com (University of Delhi); Associate, Institute of Chartered Accountants of India (ICAI).
• Experience: Former Executive Director & CFO of HDFC Limited (pre‑amalgamation, July 2023); extensive background in finance, audit, risk management, and housing finance (including international assignments in Ghana and Maldives).
• Recognitions: “Best CFO in the Financial Sector for 2010” (ICAI); “Lifetime Achievement Award” – Financial Express CFO Awards 2023.
• Board Memberships: Credila Financial Services Ltd., HDFC Asset Management Co. Ltd.
• Committee Memberships: IT Strategy, Stakeholders’ Relationship, Premises, and NCLT Resolution Committees.

Mr. Jimmy Tata (DIN: 06888364)

• Education: Master of Financial Management (Jamnalal Bajaj Institute of Management); Chartered Financial Analyst (Institute of Chartered Financial Analyst of India).
• Experience: 35+ years in banking and finance. Joined HDFC Bank in 1994; progressed from Relationship Manager to Head of Corporate Banking, then Chief Risk Officer (June 2013), and currently Chief Credit Officer.
• Current Directorships (subject to RBI approval): International Asset Reconstruction Co. Pvt. Ltd., HDB Financial Services Ltd., HDFC Trustee Company Ltd. (as nominee of HDFC Bank).

Next Steps

• RBI approval of the MD & CEO candidates, the re‑appointment of Mr. Rangan, the appointment of Mr. Tata, and the new Whole‑time Director position.
• Shareholder meeting to obtain the required consents.
• Subsequent filing of detailed remuneration and other disclosures as per SEBI Listing Regulations.

This announcement does not contain any financial performance metrics or forward‑looking guidance.