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HDFC Bank Deputy MD Kaizad Bharucha exits on December 31
Business Standard··6h ago
HDFC Bank said Deputy Managing Director Kaizad Bharucha will leave at the close of business on December 31, 2026, after more than three decades. The board accepted his request on October 17, subject to RBI approval. Bharucha, 60, joined in 1995 and became deputy MD in 2023. Anup Bagchi takes over as MD and CEO on October 27.
Prism
What It Means For You
- HDFC Bank's wholesale credit leadership changes as Bharucha exits at year-end.
- RBI still must approve the cessation before it becomes final.
- Anup Bagchi's October 27 start overlaps Bharucha's remaining weeks at the bank.
What's Happening
- An exchange filing said Bharucha requested cessation from December 31, 2026.
- The Nomination and Remuneration Committee met on October 16 and the board on October 17.
- The bank noted his role in building its credit architecture over three decades.
Who Was In The Race
- The board had recommended Bharucha as an internal MD and CEO candidate.
- RBI approved Bagchi, formerly of ICICI Prudential Life, for a three-year term.
- Sashidhar Jagdishan is due to retire as MD and CEO on October 26, 2026.
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