HDFC Bank’s Board of Directors approved the nomination of Harsh Kumar Bhanwala as the Additional Independent Director of the bank for 3-years beginning January 25, 2024.
Harsh was the Executive Chairman of Capital India Finance, a Non-Banking Finance Company (NBFC). Prior to that, from 2013 to 2020, he also served as Chairman of the National Bank for Agriculture and Rural Development (NABARD).
“…Prior to leading NABARD, he was the Chairman & Managing Director of the India Infrastructure Finance Company, Senior Vice President at IL&FS Water, and the Managing Director of the Delhi State Cooperative Bank,” HDFC Bank said.
Furthermore, the Board also approved the nomination of V Srinivasa Rangan as the new Executive Director (whole-time Director) of the Bank for a three-year term beginning November 23, 2023.
Rangan was the former Executive Director and Chief Financial Officer of Housing Development Finance Corporation Ltd. He has a Bachelor of Commerce degree from the University of Delhi and is a member of The Institute of Chartered Accountants of India (ICAI).
He has served on several financial services committees, including the RBI’s Committee on Asset Securitisation and Mortgage Backed Securitisation, the National Housing Bank’s (NHB) Technical Group for the establishment of a Secondary Mortgage Market Institution in India, the NHB’s Working Group on Covered Bonds, and the NHB’s Working Group on Credit Enhancement Mechanism.
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