HDFC Bank Board Approves 3-Year Extension for Deputy MD Kaizad Bharucha

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.