HDFC Bank appoints former NABARD chairman Harsh Kumar Bhanwala as director

In a recent development, HDFC Bank’s Board of Directors has greenlit the nomination of Harsh Kumar Bhanwala as the Additional Independent Director. The tenure for this position is set for three years, commencing from January 25, 2024.

Professional Background of Harsh Kumar Bhanwala

• Former Executive Chairman of Capital India Finance, a prominent Non-Banking Finance Company (NBFC).
• Chairman of the National Bank for Agriculture and Rural Development (NABARD) from 2013 to 2020.
• Past roles include Chairman & Managing Director of India Infrastructure Finance Company, Senior Vice President at IL&FS Water, and Managing Director of the Delhi State Cooperative Bank.

V Srinivasa Rangan Appointed as Executive Director

• Simultaneously, the HDFC Bank Board has given the nod for the appointment of V Srinivasa Rangan as the new Executive Director (whole-time Director).
• This three-year term is effective from November 23, 2023.

Professional Background of V Srinivasa Rangan

• Former Executive Director and Chief Financial Officer of Housing Development Finance Corporation Ltd.
• Holds a Bachelor of Commerce degree from the University of Delhi and is a member of The Institute of Chartered Accountants of India (ICAI).
• Active participation in various financial services committees, including the RBI’s Committee on Asset Securitisation and Mortgage Backed Securitisation.
• Contributions to the National Housing Bank’s (NHB) Technical Group for the establishment of a Secondary Mortgage Market Institution in India, NHB’s Working Group on Covered Bonds, and NHB’s Working Group on Credit Enhancement Mechanism.

Questions Related to Exams

Q: Who has been appointed as the Additional Independent Director of HDFC Bank, and what is the duration of their term?

A: Harsh Kumar Bhanwala has been appointed as the Additional Independent Director of HDFC Bank. His three-year term is set to begin on January 25, 2024.

Q: Who is the newly appointed Executive Director (whole-time Director) of HDFC Bank, and when does their term commence?

A: V Srinivasa Rangan is the newly appointed Executive Director (whole-time Director) of HDFC Bank. His three-year term began on November 23, 2023.

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