General Announcement::Intimation Change in Directorate

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
01-Jul-2023 01:18:40
Status
New
Announcement Sub Title
Intimation Change in Directorate
Announcement Reference
SG230701OTHRXPXA
Submitted By (Co./ Ind. Name)
Dhanjit Thaivalappil
Designation
Deputy Vice President
Description (Please provide a detailed description of the event in the box below)
We wish to inform you that, pursuant to the recommendation of the Nomination & Remuneration Committee, the Board of Directors ( Board ) of HDFC Bank Limited ( Bank ) at its meeting held today, has considered and approved the following, viz.

1. Appointment of Mr. Keki M. Mistry (DIN: 00008886) as an Additional and Non-Executive (Non-Independent) Director of the Bank, with effect from June 30, 2023, liable to retire by rotation. His appointment shall be subject to the approval of the shareholders of the Bank. Brief profile of Mr. Mistry is annexed herewith as Annexure-I.

2. Appointment of Mrs. Renu Karnad (DIN: 00008064) as an Additional and Non-Executive (Non-Independent) Director of the Bank, with effect from the effective date of the composite scheme of amalgamation inter alia of Housing Development Finance Corporation Limited ( HDFC Limited ) into and with the Bank, liable to retire by rotation. Her appointment shall be subject to the approval of the shareholders of the Bank. Brief profile of Mrs. Karnad is annexed herewith as Annexure-II.

3. Recommended to the Reserve Bank of India ( RBI ), the candidature of Mr. V. Srinivasa Rangan (DIN: 00030248) for appointment as an Executive Director (i.e., Whole-time Director) of the Bank for a period of three (3) years from such date or such other period as may be approved by RBI and subsequently by the shareholders of the Bank. Brief profile of Mr. Rangan is annexed herewith as Annexure-III.

Pursuant to the applicable provisions of the Banking Regulation Act, 1949, the appointment of Mr. Rangan will be subject to the approval of the RBI. Accordingly, the Bank will make an application to the RBI in this regard under Section 35B of the Banking Regulation Act, 1949. In addition, further disclosure in this regard will be made after receipt of communication / approval from RBI. Once the RBI approves the application, the Board will consider his appointment, subject to the approval of the shareholders.

Mr. Mistry, Mrs. Karnad and Mr. Rangan are not related inter-se or to any other Directors or Key Managerial Personnel of the Bank. They are not debarred from holding the office of a director, by virtue of any order passed by SEBI or any other such authority.

The Brief profile of Mr. Keki M. Mistry, Mrs. Renu Karnad and Mr. V. Srinivasa Rangan are as follows:

Brief profile of Mr. Keki M. Mistry

Mr. Keki M. Mistry is the Vice Chairman & Chief Executive Officer of Housing Development Finance Corporation Limited. He is a Fellow member of The Institute of Chartered Accountants of India. A renowned professional with over four decades of varied work experience in banking and financial services domain. He is currently a member of the Primary Markets Advisory Committee set up by the Securities and Exchange Board of India (SEBI). He is the Chairman of the sub-group constituted by SEBI to Review the Reverse Book Building Process and Review the Compulsory Delisting Framework Adopted by Stock Exchanges . Mr. Mistry was also the Chairman of the sub-group Constituted by SEBI to Review the SEBI Buyback Regulations . He was a member on the Committee of Corporate Governance set up by the SEBI in 2017. Mr. Mistry was the Chairman of the CII National Council of Corporate Governance for five years (2016-17 to 2017-18 and 2019-20 to 2021-22). He was also a member of the CII Economic Affairs Council for 2021-22. Mr. Mistry is also the Non-Executive Chairman of HDFC ERGO General Insurance Company Limited.


Brief profile of Mrs. Renu Karnad

Mrs. Renu Karnad is the Managing Director of Housing Development Finance Corporation Limited since 2010. She holds a Master's degree in Economics from the University of Delhi and a Bachelor's degree in Law from the University of Mumbai. She is also a Parvin Fellow - Woodrow Wilson School of Public and International Affairs, Princeton University, USA. Mrs. Karnad brings with her rich experience and knowledge of the mortgage sector, having been associated with real estate and mortgage industry in India for over 40 years. Over the years, she has been the recipient of numerous awards and accolades, such as the `25 top non-banking women in finance' by U.S. Banker magazine, listed by Wall Street Journal Asia as among the 'Top Ten Powerful Women to Watch Out for in Asia'. "Outstanding, Woman Business Leader" by CNBC-TV18, 25 Most Influential Women Professionals in India by India Today.


Brief profile of Mr. V. Srinivasa Rangan

Mr. V. Srinivasa Rangan is the Executive Director and Chief Financial Officer of Housing Development Finance Corporation Limited. He holds a Bachelor s degree in Commerce from University of Delhi and is an Associate of The Institute of Chartered Accountants of India (ICAI). He is an expert in finance, accountancy, audit, economics, corporate governance, legal & regulatory compliance, risk management and strategic thinking. He has vast experience in housing finance and real estate sector. Mr. Rangan has worked on international consulting assignments in housing finance in Ghana and the Maldives. He has been a member of various committees related to financial services such as RBI s Committee on Asset Securitisation and Mortgage Backed Securitisation, Technical Group formed by National Housing Bank (NHB) for setting up of a Secondary Mortgage market Institution in India, NHB s Working Group on Covered Bonds and NHB s Working Group on Credit Enhancement Mechanism. Mr. Rangan was conferred the "Best CFO in the Financial Sector for 2010" by ICAI. He was also honoured with Lifetime Achievement Award at the sixth edition of Financial Express CFO Awards 2023.

We request you to bring the above to the notice of all concerned.

Attachments

SGXChangein Directors30jun2023.pdf
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