India’s top private lender HDFC Bank Limited announced the appointment of V. Srinivasa Rangan as Executive Director on the company’s Board, with effect from November 23, 2023.
According to the Bank’s exchange filing, “In continuation of our intimation dated June 30, 2023, we wish to inform you that pursuant to an application which was made by the Bank to the Reserve Bank of India (“RBI”) upon recommendation of the Bank’s Board of Directors in this regard, the RBI vide its communication dated November 23, 2023, has given approval for the appointment of Mr. V. Srinivasa Rangan (DIN: 00030248) as Executive Director (i.e., Whole-time Director) of the Bank for a period of 3 (three) years w.e.f. November 23, 2023.”
V. Srinivasa Rangan was the Executive Director and Chief Financial Officer of erstwhile Housing Development Finance Corporation Limited. He holds a Bachelor’s degree in Commerce from University of Delhi and is an Associate of The Institute of Chartered Accountants of India (ICAI). He is an expert in finance, accountancy, audit, economics, corporate governance, legal & regulatory compliance, risk management and strategic thinking. He has vast experience in housing finance and real estate sector.
Rangan has worked on international consulting assignments in housing finance in Ghana and the Maldives. He has been a member of various committees related to financial services such as RBI’s Committee on Asset Securitisation and Mortgage Backed Securitisation, Technical Group formed by National Housing Bank (NHB) for setting up of a Secondary Mortgage market Institution in India, NHB’s Working Group on Covered Bonds and NHB’s Working Group on Credit Enhancement Mechanism.
Rangan was conferred the “Best CFO in the Financial Sector for 2010” by ICAI. He was also honoured with “Lifetime Achievement Award” at the sixth edition of Financial Express CFO Awards 2023.
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