HDFC Bank Names Ex-NABARD Chairman Bhanwala As Director
HDFC Bank announced on Monday that its board has granted approval for the appointment of Harsh Kumar Bhanwala, former NABARD chairman, as an additional independent director. Additionally, V Srinivasa Rangan, the chief financial officer of the erstwhile Housing Development Finance Corporation, has been approved as an executive director for a three-year term starting from 23 November 2023. These appointments are contingent upon shareholders' approval, as mentioned in the regulatory filing.
Harsh Kumar Bhanwala's tenure as an additional independent director is slated for three consecutive years, from 25 January 2024 to 24 January 2027. Currently serving as the Non-Executive Chairman of MCX, Bhanwala holds directorial positions on the boards of IIM Rohtak and Bayer Crop Science. Before his role at NABARD, he served as the chairman and managing director of the India Infrastructure Finance Company (IIFCL), according to the filing.
V Srinivasa Rangan, bringing extensive experience in housing finance and the real estate sector, is set to assume the role of executive director. The regulatory filing emphasises that both appointments are subject to the approval of the shareholders.
