General Announcement::Outcome of Board Meeting held on July 20, 2024

Issuer & Securities

Issuer/ Manager
HDFC BANK LIMITED
Securities
HDFCBANK INR23B 8.1%N250322 - XS1794215696 - 8NPB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
22-Jul-2024 23:15:11
Status
New
Announcement Sub Title
Outcome of Board Meeting held on July 20, 2024
Announcement Reference
SG240722OTHRQCX0
Submitted By (Co./ Ind. Name)
HDFC Bank Limited
Designation
Deputy Vice President
Effective Date and Time of the event
22/07/2024 17:00:00
Description (Please provide a detailed description of the event in the box below)
1.We wish to inform you that with respect to mandatory listing requirement of HDB Financial Services Limited
( HDBFS ) (subsidiary of HDFC Bank Limited) being an Upper Layer NBFC pursuant to the circular issued by
the Reserve Bank of India in October 2022, the Board of Directors of the Bank at its meeting today provided an
in-principle approval to initiate the process of listing of HDBFS through a potential initial public offer and seek
necessary approvals from the regulatory authority(ies) in this regard. Further, the Board has delegated the powers
to a committee of directors to inter alia, undertake various steps in this regard.
2. Based on the recommendation of the Nomination & Remuneration Committee, the Board of Directors of the
Bank, at its meeting held today i.e. July 20, 2024, has approved the appointment of Mr. Ajay Agarwal as
Company Secretary (Key Managerial Personnel) and Compliance Officer of the Bank under the SEBI Listing
Regulations and SEBI (Prohibition of Insider Trading) Regulations, 2015, with effect from July 21, 2024 in
place of Mr. Santosh Haldankar.
Brief profile of Mr. Agarwal is attached herewith as Annexure-I.
In view of the aforesaid appointment and pursuant to Regulation 30(5) of the SEBI Listing Regulations, following
are the contact details of Key Managerial Personnel of the Company, who have been severally authorized for the
purpose of determining materiality of events and information as per the Bank s Policy on Determination of
Materiality of Events/ Information and to make necessary disclosures to the Stock Exchanges:
Sr. No Name of the KMP Designation of the KMP Contact Details
1 Mr. Sashidhar Jagdishan Managing Director and Chief
Executive Officer
Telephone: 022 6631 6000
Email id -
2 Mr. Kaizad Bharucha Deputy Managing Director shareholder.grievances@hdfcbank.com
3 Mr. Bhavesh Zaveri Executive Director
4 Mr. V. Srinivasa Rangan Executive Director
5 Mr. Srinivasan
Vaidyanathan
Chief Financial Officer
6 Mr. Ajay Agarwal Company Secretary
The Board meeting commenced at 11:00 a.m. and concluded at 4:45 p.m.
This is for your information and appropriate dissemination.

ANNEXURE I
BRIEF PROFILE OF MR. AJAY AGARWAL
Mr. Ajay Agarwal is a Fellow Member of the Institute of Company Secretaries of India. He is an expert in corporate
and securities law, corporate governance and legal & regulatory compliance.
Mr. Agarwal was the Company Secretary and key managerial person of erstwhile Housing Development Finance
Corporation Limited (Corporation) since March 2015 and was associated with the Corporation for 23 years till its
merger with HDFC Bank. He was responsible for ensuring compliances with the applicable corporate and securities
laws, secretarial standards etc. He was also the Compliance Officer of the Corporation under the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, SEBI (Prohibition of Insider Trading) Regulations,
2015 and SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993.
Mr. Ajay Agarwal played a pivotal role in the merger of the Corporation with and into HDFC Bank Limited and was
part of the integration committee formed for a smooth transition.
He has been a member of the CII National Committee on Regulatory Affairs since 2018-19 and was a member of
CII Task Force Working Group Decriminalization of Business Laws. He was a member of CII Corporate
Governance Council for the years 2020-21 to 2022-23. He is/was also a member of certain working groups set up by
SEBI for suggesting changes in specific SEBI regulations.
Currently, he is the Senior Executive Vice President Head - Group Oversight of HDFC Bank Limited and would
continue to be responsible for the said function, which essentially enables the Bank to have an effective oversight on
its subsidiary companies to meet the regulatory requirements and expectations.
Mr. Ajay Agarwal is a nominee of HDFC Bank on the Board of HDFC Education and Development Services Pvt
Ltd., HDFC Plc., Maldives and First Housing Finance (Tanzania) Limited.
We request you to bring the above to the notice of all concerned.

Attachments

SGXKMP30June2024.pdf
Total size =746K