HDFC Bank appoints V Srinivasa Rangan as executive director

HDFC Bank, the country's largest private sector lender, on Monday, November 27, appointed V Srinivasa Rangan as the executive director of the bank for a period of three years withe effect from November 23.

V Srinivasa Rangan was the executive director and chief financial officer of Housing Development Finance Corporation (HDFC). 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 and regulatory compliance, risk management and strategic thinking. He has vast experience in housing finance and real estate sector.

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.

The bank also appointed Dr. Harsh Kumar Bhanwala as an additional independent director of the Bank for a period of three consecutive years from January 25, 2024 to January 24, 2027.

Bhanwala was the Executive Chairman of Capital India Finance Limited, an NBFC. Prior to that, from 2013 to 2020, Bhanwala was the Chairman of the National Bank for Agriculture and Rural Development (NABARD), the Government of India’s apex development bank, which oversees all aspects of agricultural credit as well as the supervision of regional rural banks and cooperative banks.