HDFC Bank strengthens leadership team with new executive and independent directors

HDFC Bank, one of India’s leading private sector banks, has announced the appointment of V Srinivasa Rangan as its new Executive Director for a three-year term starting November 23. Rangan, who previously served as HDFC’s Executive Director and Chief Financial Officer, brings a wealth of experience in finance, accountancy, and risk management to his new role.

Rangan’s expertise extends beyond domestic markets; he has international consultancy experience in housing finance in countries such as Ghana and the Maldives. His professional contributions include participation in several committees related to asset securitisation and mortgage-backed securitisation, including those established by the Reserve Bank of India (RBI) and the National Housing Bank (NHB). His work has also encompassed working groups focused on covered bonds and credit enhancement mechanisms.

Adding to the bank’s strategic leadership, Dr. Harsh Kumar Bhanwala has been approved by HDFC Bank’s Board to serve as Additional Independent Director from January 25, 2024. Bhanwala’s appointment follows a recommendation from the Nomination & Remuneration Committee and is set to last until January 24, 2027. His extensive background features leadership roles at Capital India Finance Limited and a robust tenure as Chairman of the National Bank for Agriculture and Rural Development (NABARD) from 2013-2020, where he oversaw agricultural credit supervision.

These appointments underscore HDFC Bank’s commitment to strengthening its executive team with seasoned professionals who bring diverse insights and experiences to the table. Their combined expertise in financial services, risk management, and strategic leadership is expected to bolster HDFC Bank’s position in the competitive banking landscape.