The deputy managing director of HDFC Bank, Kaizad Bharucha will step down from the bank at the end of this year. Bharucha stepped down from the position after more than three decades with the lender.
\n\nBharucha has been associated with HDFC Bank for over 30 years and has played a key role in its growth and operations. During his tenure, he held several senior positions across the organisation, contributing to the bank’s expansion and strengthening its position in India’s banking sector.
\n\nBharucha, 60, was among the contenders for the bank’s top job, with the board recommending him as its internal candidate for the position of managing director and chief executive officer (MD & CEO).
\n\nHowever, the Reserve Bank of India (RBI) approved Anup Bagchi, a veteran of the ICICI Group and chief executive officer of ICICI Prudential Life Insurance, for the position for a three-year term. Bagchi will take charge on October 27.
\n\n“Mr. Kaizad Bharucha, Deputy Managing Director, HDFC Bank has requested cessation from the service of the Bank with effect from the close of business hours on December 31, 2026,” the bank said in the filing.
\n\nFurther, bank's Nomination and Remuneration Committee (GNRC) and board, at meetings held…
Original source: https://www.timesnownews.com/business-economy
