HDFC Bank’s board on Saturday approved a proposal to submit two candidates’ names to the Reserve Bank of India for appointment as managing director and chief executive officer for a three-year term.
The names will be submitted in order of preference, along with the remuneration proposed for each candidate, the bank said in an exchange filing. The appointment will be subject to RBI approval.
The decision followed recommendations from the bank’s Governance, Nomination and Remuneration Committee. The bank said it would submit the proposal to the central bank for its consideration and approval.
Separately, the board approved the reappointment of V Srinivasa Rangan as a whole-time director, designated as executive director, along with his remuneration. His proposed tenure will run from November 23, 2026, to November 22, 2027.
The board also approved Jimmy Tata’s appointment as a whole-time director, designated as executive director, together with his remuneration, for three years. Tata’s tenure will begin from the date of RBI approval or another date or period specified by the regulator, according to the bank’s disclosure to stock exchanges.