HDFC Bank board clears extension of Kaizad Bharucha as DMD for 3 years

New Delhi: HDFC Bank on Thursday said its board has cleared the re-appointment of Kaizad Bharucha as Deputy Managing Director for a period of three years.

The decision for the extension of tenure was taken in the board meeting held earlier in the day.

The board decision is subject to approval of the Reserve Bank of India for a period of three years from such date and for such period as may be approved by RBI and subsequently by the shareholders of the bank, HDFC Bank said in a regulatory filing.

The initial appointment of Bharucha as an executive director of the bank was approved by the Reserve Bank of India (RBI) with effect from June 13, 2014, it said.

As Deputy Managing Director, Bharucha is responsible for giving strategic direction to the assets franchise of the bank, it said.

This ranges from retail asset products like home loans, auto loans, two-wheeler loans, personal and business loans, etc., to rural banking, sustainable livelihood, MSME, SME and the transportation group, it said.

In the wholesale segment, Bharucha oversees the emerging corporate group, healthcare finance and corporate banking segments.