HDFC Bank has announced the re-appointment of Mr. Kaizad Bharucha as Deputy Managing Director, subject to RBI approval. The Board approved the re-appointment based on the recommendation of the Nomination & Remuneration Committee. The term is for 3 years, or as approved by the RBI and shareholders. Mr. Bharucha’s initial appointment as Executive Director was effective from June 13, 2014.
Deputy Managing Director Re-Appointed
The Board of Directors of HDFC Bank has approved the re-appointment of Mr. Kaizad Bharucha as Deputy Managing Director (DMD). This decision follows the recommendations of the Nomination & Remuneration Committee. The announcement was made on October 30, 2025.
Terms of Re-Appointment
Mr. Bharucha’s re-appointment is subject to the approval of the Reserve Bank of India (RBI). The term is set for 3 years from the date of approval and will also require subsequent approval from the bank’s shareholders.
Bharucha’s Background
Mr. Bharucha has been with HDFC Bank since October 1995 and joined the Board in 2014. He became the Deputy Managing Director in April 2023. Prior to HDFC Bank, he worked with SBI Commercial and International Bank Ltd from 1986 to 1995.
Key Contributions
Mr. Bharucha has played a key role in shaping HDFC Bank’s strategic direction, particularly in Banking (Wholesale and Retail), Credit, and Risk Management. He has also spearheaded Government of India initiatives, including the Inclusive Banking Initiatives Group (IBIG).
Responsibilities
As Deputy Managing Director, Mr. Bharucha is responsible for providing strategic direction to the Assets franchise, including Retail Asset products, Rural Banking, MSME, and the Transportation Group. He also oversees the Emerging Corporate Group, Healthcare Finance, and Corporate Banking segments. He currently oversees Corporate Social Responsibility, ESG and Inclusive Banking Initiatives Group.
Source: BSE
