HDFC Bank Deputy Managing Director Kaizad Bharucha has decided to step down after more than three decades with the lender. His exit is scheduled for December 31, 2026, subject to approval from the Reserve Bank of India. The bank said his work helped strengthen its business and build institutional resilience throughout.
HDFC Bank Deputy Managing Director Kaizad Bharucha has decided to step down after more than three decades with the lender, with his exit scheduled for December 31, 2026, subject to approval from the Reserve Bank of India (RBI).
The bank said in a regulatory filing that Bharucha had requested cessation of his services at the close of business on December 31.
The bank’s Nomination and Remuneration Committee and board of directors accepted his request at meetings held on October 16 and 17, respectively, and agreed to forward it to the RBI for approval.
In a press release, the bank credited Bharucha with playing a major role in its growth and institutional development.
It also recognised his contribution in building its credit framework, describing the bank’s credit architecture as one of its key strengths.
Bharucha's three-decade journey at HDFC Bank
Bharucha joined HDFC Bank in October 1995 and became Deputy Managing Director in April 2023.
Over the years, he handled several key businesses, including retail assets, rural banking, small and medium enterprises, emerging corporates and corporate banking.
The bank said that his work had helped strengthen its business and build institutional resilience.
His departure comes at a time when HDFC Bank is undergoing a leadership transition, with investor confidence and governance under close scrutiny.