HDFC Bank Receives RBI Approval for Re-appointment of V. Srinivasa Rangan as Executive Director

Key numbers

Net Profit Qtr	₹20,700 CrSept 2026 Quarter
Market Cap	₹12,51,260 CrBanking & Finance
P/E Ratio	15.62Sector PE: 20.8
1-Year Return	-18.24%Price Performance
Execution period	1 (one) year effective from November 23, 2026

Key highlights

• RBI approval granted on November 12, 2026, for a one-year term starting November 23, 2026
• Mr. V. Srinivasa Rangan will continue in his role at the extant remuneration levels
• The bank recently reported a quarterly net profit of ₹20,700.03 crore for September 2026
• Loan book (gross advances) stood at ₹32,19,500 crore as of September 30, 2026
• Management maintains focus on deposit mobilization, delivering 18.8% YoY growth in the latest quarter

Leadership Continuity and Regulatory Compliance

HDFC Bank Limited has confirmed that the Reserve Bank of India, via communication dated November 12, 2026, has approved the re-appointment of Mr. V. Srinivasa Rangan as Whole-time Director.

Designated as Executive Director, Mr. Rangan’s new term will commence on November 23, 2026. This regulatory nod follows the bank's initial application made to the regulator in September 2026.

The move ensures administrative stability during a period of significant scale for India's largest private sector lender, which recently reported a quarterly net profit of ₹20,700.03 crore for the period ended September 2026, representing a 5.55% year-on-year increase.

Terms of Appointment and Director Profile

• Mr. V. Srinivasa Rangan holds Director Identification Number (DIN) 00030248
• The re-appointment is valid for a period of one year starting from November 23, 2026
• Remuneration will remain at the extant levels previously established by the board
• The director is not related to any other Director or Key Managerial Personnel of the Bank
• He is not debarred from holding office by any SEBI order or other regulatory authority
• This follows the earlier RBI approval of Anup Bagchi as Managing Director & CEO in October 2026

Operational Scale and Market Context

The approval comes as HDFC Bank focuses on deposit mobilization to normalize its credit-to-deposit ratio following its historic merger. For the quarter ended September 30, 2026, the bank delivered an 18.8% year-on-year growth in deposits, successfully outpacing its 16.3% advance growth. Operating revenue for the same period stood at ₹95,131.63 crore, marking a 9.35% increase compared to the previous year.

While the stock has seen a 1-year price decline of 18.24%, its current P/E of 15.62 remains lower than the sector average of 20.8, reflecting the market's ongoing valuation of its expanded balance sheet and loan book of ₹32,19,500 crore.

What to watch next

• Board meeting to review and approve Q3 FY27 financial results in January 2027
• Update on the ₹12,500 crore Initial Public Offering (IPO) of subsidiary HDB Financial Services
• Management targets for deposit mobilization to further normalize credit-to-deposit ratios

HDFC Bank · financial snapshot

Share price	₹810.8
Market capitalisation	₹12.51L Cr
Revenue (annual)	₹3.49L Cr
Net profit (annual)	₹76,025.97 Cr
Revenue (latest quarter)	₹95,131.63 Cr+5.03% vs previous quarter
Net profit (latest quarter)	₹20,700.03 Cr+7.56% vs previous quarter
P/E (TTM)	15.62×Sector 20.8×
Promoter holding	0%0.00% QoQ
FII holding	39.39%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.