Hdfc Top Brass Sees Reshuffle

The Housing Development Finance Corporation (HDFC) has inducted Renu Sudkarnad and R V S Rao, executive directors of the institutipn, on the board from the beginning of May. Reports said in another move, Milind Barwe, head of treasury at HDFC has been deputed as managing director of HDFC Mutual Fund, the joint venture between HDFC and Standard Life Investment. The earlier incumbent, Deepak Satwalekar, was tipped to join the insurance venture between HDFC and Standard Life. However, the official spokesperson of HDFC denied it as being `not true'. Sources said the final deputation was yet to come. This leaves Keki Mistry, deputy managing director of HDFC as the senior most, and he will have to take over the responsibilities of Satwalekar Mistry was recently promoted as the DMD of the institution. Earlier Narsee Monjee, has been deputed to Infrastructure Development Finance Corporation as the managing director following the retirement of Balaji Rao. Sources said top level changes were bound to take place as the institution has taken up several expansion plans recently.