New Chief Compliance Officer appointed; incumbent's 3-year term ends

Mr. Rakesh Kumar Rajput completed his 3-year term as Chief Compliance Officer on September 30, 2026, and continues as a full-time employee.

Wed 30 Sep 2026

Outgoing CCO

Mr. Rakesh Kumar Rajput completed his 3-year term as Chief Compliance Officer on September 30, 2026

New CCO Appointed

Mr. V. N. Srivatsan approved as Chief Compliance Officer for 3 years, proposed to join January 4, 2027

Incoming CCO Experience

Around 34 years of overall professional experience, around 25 years in the BFSI sector, close to 10 years in Compliance and Regulatory…

Interim Arrangement

Mr. Venkateswaran L will hold the CCO responsibility until the new CCO joins

Appointment Basis

Appointment is as per the RBI (Commercial Banks - Compliance Function) Directions, 2026

What happened

The Board of HDFC Bank, at its meeting on September 30, 2026, approved the appointment of Mr. V. N. Srivatsan as Chief Compliance Officer (CCO), on the recommendations of the Audit Committee and the Governance, Nomination and Remuneration Committee.

• Term: 3 (three) years from his date of joining, proposed as January 4, 2027.
• He will be a full-time employee of the Bank.
• Appointment is as per the RBI (Commercial Banks - Compliance Function) Directions, 2026.

Outgoing CCO

Mr. Rakesh Kumar Rajput was appointed CCO for 3 (three) years with effect from October 1, 2023 and his term concluded from the close of business hours on September 30, 2026. He will continue to be a full-time employee of the Bank.

Interim arrangement

Until the new CCO joins, Mr. Venkateswaran L, currently Compliance Head - Credit, Asset Product & Regulatory Reporting, will hold the responsibility as Chief Compliance Officer.

Profile of the incoming CCO

• Around 34 years of overall professional experience.
• Around 25 years in the BFSI sector.
• Close to 10 years of direct experience in Compliance and Regulatory Inspection.
• Led Retail Banking Compliance and Regulatory Inspection for more than 8 years.
• Currently Head - Compliance: Overseas Banking and Subsidiaries & Data Privacy Officer at ICICI Bank Limited.
• Holds a Post Graduate degree in Business Administration from PSG College of Technology and a B.Tech from Sri Venkateshwara University.

How to read it

The CCO is a key regulatory role for a bank, overseeing compliance frameworks and dealings with regulators. Here the change follows the completion of a fixed term rather than a resignation, and the Bank has named both a successor and an interim holder of the responsibility. The Board meeting commenced at 10:00 a.m. and concluded at 3:00 p.m.

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