HDFC Bank Appoints Former NABARD Chairman Bhanwala As Director

HDFC Bank on Monday said the board of the bank has approved the appointment of former NABARD chairman Harsh Kumar Bhanwala as an additional independent director.

The board in its meeting on Monday also approved the appointment of V Srinivasa Rangan, chief financial officer of erstwhile Housing Development Finance Corporation Ltd, as executive director for three years with effect from November 23, 2023, HDFC Bank said in a regulatory filing.

Both appointments are subject to shareholders' approval, it said.

Bhanwala has been appointed for a period of three consecutive years from January 25, 2024 to January 24, 2027, it said.

Currently, Non-Executive Chairman of MCX, Bhanwala also serves as the Director on the boards of IIM Rohtak and Bayer Crop Science Ltd.

Prior to leading National Bank for Agriculture and Rural Development (NABARD), he was the chairman and managing director of the India Infrastructure Finance Company (IIFCL), as per the filing.

Rangan has vast experience in housing finance and real estate sector.