HDFC Bank gets RBI approval for appointment of Mr. V Srinivasa Rangan as Executive Director

RBI vide its communication dated November 23, 2023, has given approval for the appointment of Mr. V. Srinivasa Rangan (DIN: 00030248) as Executive Director (i.e., Whole-time Director) of the Bank for a period of 3 (three) years w.e.f. November 23, 2023. A meeting of the Board of Directors of the Bank will be convened in due course to consider the appointment.

Mr. V. Srinivasa Rangan was the Executive Director and Chief Financial Officer of erstwhile 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.

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1521.75 as compared to the previous close of Rs. 1512.35. The total number of shares traded during the day was 141371 in over 5470 trades.

The stock hit an intraday high of Rs. 1523.70 and intraday low of 1509.00. The net turnover during the day was Rs. 214897885.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 RBIApproval ExecutiveDirector Appointment