NSE: HDFCBANK
| Directors | |
| Mr. Atanu Chakraborty (Part time Chairman & Independent Director) | • Aged 63 years, served the Government of India, for 35 years, as a member of IAS in Gujarat cadre. He has mainly worked in areas of Finance & Economic Policy, Infrastructure, Petroleum & Natural Gas. • In the Union Government, he held various posts such as Secretary to Government of India in the Ministry of Finance. He also handled financial stability and currency, domestic & foreign related issues as well. • He has also served on the Board of World Bank as alternate Governor as well as on the Central Board of Directors of the Reserve Bank of India.. |
| Mr. Sashidhar Jagdishan (MD & CEO) | • Aged 58 years, has an overall experience of 31 years. He has completed his graduation in Science with specialization in Physics, is a Chartered Accountant by profession, and holds a Master’s degree in Economics of Money, Banking & Finance from the University of Sheffield, United Kingdom. • Mr. Jagdishan joined the Bank in the year 1996 as a Manager in the Finance function. He became Business Head of finance in 1999 and was appointed as Chief Financial Officer in the year 2008. |
| Mr. Kaizad Bharucha (Deputy MD) | • Aged 58 years, is a career banker with more than 35 years of experience. He has been associated with the Bank since 1995. Currently, 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 Bank coverage. • Prior to joining the Bank, he worked at SBI Commercial and International Bank in various areas |
| Mr. Bhavesh Zaveri | Aged 57 years, he is the Group Head – Operations, Cash Management & ATM Product of HDFC Bank. In his current role, he is responsible for Business and Operations across the country and for creating and delivering a flawless operations execution capability across the diversified product suite of the Bank to the Corporate, MSME & Retail verticals |
| Mrs. Renu Karnad (Non executive Non independent Director) | • Aged 70 years, has been the Managing Director of Housing Development Finance Corporation Limited since 2010. She holds a Master’s degree in Economics from the University of Delhi and a Bachelor’s degree in Law from the University of Mumbai. • She has been the recipient of numerous awards and accolades, such as the ’25 top non-banking Women in finance’ by U.S. Banker magazine, listed by Wall Street Journal Asia as among the ‘top Ten Powerful Women to Watch Out for in Asia’. “Outstanding Woman Business Leader” by CBNC-TV18, 25 Most Influential Women Professionals in India by India Today |
| Mr. Keki Mistry | Aged sixty-eight (68) years, is the Vice Chairman and CEO of HDFC Limited. He is a Fellow member of The Institute of Chartered Accountants of India. A renowned professional with over four decades of varied work experience in the banking and financial services domain. He is currently a member of the Primary Markets Advisory Committee set up by the Securities and Exchange Board of India (SEBI) |
Remuneration of Board of Directors
| Particulars | Mr. Sashidhar Jagdishan | Mr. Kaizad Bharucha | Mr. Bhavesh Zaveri | Mr. V Srinivasa Rangan |
| Basic | 2,94,35,661 | 3,01,71,864 | 1,60,03,867 | 1,17,12,000 |
| Allowances & Perquisites | 3,32,10,228 | 3,45,22,712 | 2,11,75,376 | 81,23,618 |
| Provident Fund | 35,32,285 | 36,20,616 | 19,20,466 | 14,05,440 |
| Superannuation | 44,15,352 | 45,25,776 | 24,00,578 | 17,56,800 |
| Performance Bonus | 3,71,20,846 | 3,84,44,491 | 0 | 0 |
| Number of stock options | 2,09,131 | 1,26,926 | 0 | 0 |
| Directors | Sitting Fees Remuneration (INR) | Remuneration to NEDs (INR) |
| Mr. Atanu Chakraborty | 56,00,000 | 35,00,000 |
| Mr. M.D. Ranganath | 75,00,000 | 21,23,626 |
| Mr. Sandeep Parekh | 82,50,000 | 21,23,626 |
| Dr. (Mrs.) Sunita Maheshwari | 33,50,000 | 21,23,626 |
| Mrs. Lily Vadera | 43,00,000 | 21,23,626 |
| Dr. (Mr. Harsh Kumar Bhanwala | 8,00,000 | 4,91,758 |
| Mr. Keki Mistry | 13,00,000 | 16,23,626 |
| Mrs. Renu Karnad | 58,50,000 | 21,23,626 |
| Mr. Sanjiv Sachar | 24,00,000 | 6,08,695 |
| Mr. Umesh Chandra Sarangi | 57,00,000 | 18,68,131 |
- Sashidhar Jagdishan’s remuneration of ₹10.55 crore is on the higher end of the industry spectrum. The average remuneration for MDs and CEOs in private sector banks ranges from ₹7-10 crore.
- Also, Sashidhar was the highest paid MD & Ceo in the Indian private banking sector in FY23
