RBI approves appointment of Kaizad Bharucha as Deputy Managing Director and Bhavesh Zaveri as Executive Director of HDFC Bank

The Reserve Bank of India has approved the appointment of Mr Kaizad Bharucha as the Deputy Managing Director of HDFC Bank and Mr Bhavesh Zaveri as Executive Director of the bank for a period of three years, with effect from April 19, 2023.

A meeting of the Bank's Board of Directors will be convened in due course inter alia to give effect to the appointments.

Kaizad Bharucha is a career banker with over 35 years of experience. He has been associated with the Bank since 1995. In his current position as Executive Director, 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 Banks coverage. 

Prior to joining the Bank, he worked in SBI Commercial and International Bank in various areas including Trade Finance and Corporate Banking.

He has also represented the Bank on external banking-related committees.

Bhavesh Zaveri on the other hand 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 including for Asset, for Liabilities and for Transaction Services of Payments & Cash Management, Trade Finance & Treasury, and ATM Product. He has an overall experience of over 36 years and has headed the critical functions of Operations, Cash Management and Technology at the Bank.

Prior to joining the Bank, Mr. Zaveri worked for Oman International Bank and Barclays Bank. He holds a Master’s Degree in Commerce from Mumbai University and is a Certified Associate of the Indian Institute of Bankers.