RBI approves appointment of Kaizad Bharucha as Deputy Managing Director and Bhavesh Zaveri as Executive Director of HDFC Bank

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The Reserve Bank of India has approved the appointment of Mr Kaizad Bharucha as the Deputy Managing Director of HDFC Bank  and Mr Bhavesh Zaveri as Executive Director of the bank for a period of three years, with effect from April 19, 2023.

A meeting of the Board of Directors of the Bank will be convened in due course inter alia to give effect to the above-mentioned appointments. 

Brief profile of Mr. Kaizad Bharucha 

Mr. Kaizad Bharucha is a career banker with over 35 years of experience. He has been associated with the Bank since 1995. In his current position as Executive Director, he is responsible for Wholesale Banking covering areas of Corporate Banking, PSUs, Capital & Commodities Markets, Financial Institutions, Custody, Mutual Funds, Global Capability Centre & Financial Sponsors coverage, and Banks coverage. 

As Executive Director, in his earlier position, he was responsible for Corporate Banking, Emerging Corporates Group, Business Banking, Healthcare Finance, Agri lending, Tractor financing, Commercial Vehicle Finance, Commercial Equipment Finance, Infrastructure Finance, Department for Special Operations and Inclusive Banking Initiatives Group. At the Bank he is engaged across key operating committees. He is also the Designated Director, Financial Intelligence Unit (FIU) and the Designated Director, Internal Ombudsmen Committee. 

Mr. Bharucha has rich and extensive experience in Risk Management, Credit Management, Banking and Business management. Mr Bharucha has previously been on the boards of HDB Financial Services Limited and International Asset Reconstruction Company Pvt Ltd. 

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