More Stories

Informist, Saturday, Oct. 17, 2026

 

--HDFC Bank Deputy MD Kaizad Bharucha resigns; board awaits RBI approval 

 

NEW DELHI – HDFC Bank Ltd. Deputy Managing Director Kaizad Bharucha resigned Saturday, effective close of business hours on Dec. 31, the private-sector bank informed exchanges. The board has accepted his resignation and forwarded it to the Reserve Bank of India for approval, it said. 

 

Bharucha was associated with HDFC Bank for more than three decades. "During this period, Mr. Bharucha played a significant role in the Bank's growth and institutional development and made an enduring contribution to the strength and resilience of its business," the lender said. "The Directors particularly acknowledged that the Bank's robust credit architecture has been one of its defining institutional strengths and recognised Mr. Bharucha as one of the principal architects who helped conceptualise, establish and develop this framework," it added.

 

Further, the board has approved the re-appointment of Lily Vadera as an independent director for a period of three years with effect from Nov. 26. 

 

India's largest private-sector bank has undergone notable leadership changes this year. Anup Bagchi is set to take over as the managing director and chief executive officer on Oct. 27 after Sashidhar Jagdishan said he would retire once his tenure ends on Oct. 26. Several media reports had said Bharucha was a key internal contender for the top role at the bank. The bank's former chairman Atanu Chakraborty had resigned in March, citing practices that were not congruent with his personal values and ethics.

The net profit of India's largest private-sector lender grew 5% on year to INR 195.1 billion for the September quarter. The results were disclosed Saturday. Friday, shares of the bank ended 0.3% higher at INR 728.85 per share on the National Stock Exchange. End

 

Reported by Pratiksha

Edited by Shubhayan Bhattacharya

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.