HDFC Bank Receives RBI Approval For Appointments Of Executive Director, DMD

HDFC Bank on Thursday announced the Reserve Bank of India’s (RBI) approval for two top executive appointments.

It added the approval includes, Kaizad Bharucha's appointment as Deputy Managing Director (DMD) and Bhavesh Zaveri as Executive Director for a period of three years with effect from 19 April 2023. 

As an Executive Director, Bharucha will be responsible for wholesale banking covering, corporate banking, PSUs, capital and commodities markets, financial institutions, custody, mutual funds, global capability centre and financial sponsors coverage and banks coverage.

Subsequently, Zaveri will run business and operations across corporate, MSME and retail verticals, including for asset, liabilities and transaction services of payments and cash management, trade finance and treasury, and ATM products.

Bharucha and Zaveri have a decades-long association with HDFC. Both joined in the 90s, the DMD in 1995 and the Executive Director in 1998.