New Delhi, October 17 (H.S.): Kaizad Bharucha, Deputy Managing Director of HDFC Bank, India’s largest private-sector lender, has resigned from his position amid an ongoing leadership transition at the bank.

In a disclosure to the stock exchanges on Saturday, HDFC Bank confirmed that Bharucha had tendered his resignation as Deputy Managing Director. The bank stated that Bharucha, who has been associated with the institution since 1995, had requested to be relieved of his responsibilities with effect from December 31.

According to the bank’s regulatory filing, its Board of Directors has accepted Bharucha’s request, subject to approval from the Reserve Bank of India (RBI).

Meanwhile, Anup Bagchi, a veteran of the ICICI Group, is scheduled to assume charge as Managing Director and Chief Executive Officer (MD and CEO) of HDFC Bank on October 27. According to reports, Bharucha had also been among the contenders for elevation to the bank’s top executive position.

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Hindusthan Samachar / Jun Sarkar