HDFC Bank forwards 2 MD and CEO candidates to RBI

Business Sep 12, 2026

HDFC Bank has picked two names for its next managing director and CEO and sent them to the Reserve Bank of India for approval.

One is Kaizad Bharucha, who has been with HDFC Bank since 1995 and is currently its deputy managing director.

The other is an experienced banker with a private bank, though their name has not been revealed yet.

RBI 15-year cap could bar Bharucha

Bharucha might not qualify because RBI rules limit whole-time directors at private sector banks to 15 years.

So, HDFC Bank is also considering external candidates from places like Tata Capital and Aditya Birla Capital.

The RBI's final decision will be out by late September, before Sashidhar Jagdishan steps down as CEO in October 2026.