RBI approves appointment of Kaizad Bharucha & Bhavesh Zaveri as Dy MD and ED at HDFC Bank

Current Context: The Reserve Bank of India has approved the appointment of Kaizad Bharucha as the Deputy Managing Director and Bhavesh Zaveri as the Executive Director of HDFC Bank for a period of three years, with effect from April 19, 2023. The appointments are based on the recommendation of the bank’s Board of Directors.

• Bharucha has been with HDFC Bank since 1995 and was previously an Executive Director responsible for various segments such as corporate banking, emerging corporates group, business banking, healthcare finance, agri lending, tractor financing, commercial vehicle finance, commercial equipment finance, infrastructure finance, department for special operations and inclusive banking initiatives group.
• Zaveri has been with HDFC Bank since 1998 and is the Group Head- Operations, Cash Management & ATM Product of HDFC Bank.

Static part:
Managing Director and CEO of HDFC Bank: Sashidhar Jagdishan

Question:

Q.1 What is the tenure of the appointments of Kaizad Bharucha and Bhavesh Zaveri?
a. One year
b. Two years
c. Three years
d. Four years