The Reserve Bank of India (RBI) has approved the appointment of Kaizad Bharucha as deputy managing director and Bhavesh Zaveri as executive director of HDFC Bank for a period of three years, with effect from April 19, 2023.

The appointment of these two top executives has come ahead of the merger of parent HDFC Ltd with HDFC Bank.

A meeting of the board of directors will be convened to give effect to these appointments, HDFC Bank said.

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.

Bharucha has extensive experience in Risk Management, Credit Management, Banking and Business management. He has previously been on the boards of HDB Financial Services Limited and International Asset Reconstruction Company Pvt Ltd.

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.

 Zaveri 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.

 Zaveri joined the bank in 1998 in the operations function. Prior to that, he worked for Oman International Bank and Barclays Bank.