HDFC Bank has appointed former National Bank for Agriculture and Rural Development (NABARD) chairman Harsh Kumar Bhanwala as an additional independent director. His appointment will be effective for three years from January 25, 2024.
Before NABARD, Bhanwala was the chairman and managing director of the India Infrastructure Finance Company (IIFCL), as per the filing.
Besides Bhanwala’s appointment, the bank also announced the appointment of V Srinivasa Rangan as its new Executive Director for a three-year term, effective November 23.
Before being named as executive director, Rangan served as HDFC's chief financial officer. He comes with a wealth of experience in finance, accountancy, and risk management in his new role.
Rangan joined HDFC in 1986 after qualifying as a chartered accountant. On his journey through the ranks at HDFC, he has handled various responsibilities. These include retail and wholesale lending, branch operations, accounting, liaison with the Government and regulators, mobilisation of deposits from institutions, issuance of debentures and commercial papers, external commercial borrowings, asset, liability management, risk management, financial accounting, and taxation, etc.