HDFC Bank Gets RBI Nod For Appointments Of Executive Director, Deputy Managing Director

HDFC Bank Ltd. said Thursday it has received approval from the Reserve Bank of India for two senior-level appointments at the bank.

The bank has received the RBI's consent for the appointments of Kaizad Bharucha as deputy managing director of HDFC Bank and Bhavesh Zaveri, who will be appointed as an executive director of the bank, according to an exchange filing by the lender. Both Bharucha and Zaveri have been with the bank for over two decades, the filing said.

HDFC Bank's board of directors will convene in due course to give effect to the appointments, the lender said.

Bharucha is currently an executive director at the bank, where he looks over wholesale banking, covering areas such as corporate banking, mutual funds, capital and commodity markets, and financial institutions.

Zaveri joined HDFC Bank in 1998 and is currently the group head for operations, cash management, and ATM products.

RBI has approved the two appointments for a period of three years starting April 19, the lender said.