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RBI clears appointment of whole-time director for 3 years by Bandhan Bank

The lender added that Babbar's three-year tenure will begin from the date of taking charge, which should be within three months from the date (January 17, 2023), of the said RBI approval

With the IDFC buy, Kolkata-headquartered Bandhan group will gain an entry straightway into the top-10 club.

Aathira Varier Mumbai

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Private-sector lender Bandhan Bank on Thursday informed exchanges that the Reserve Bank of India (RBI) has granted approval for the appointment of Rajinder Kumar Babbar as Whole-Time Director (designated as Executive Director) of the bank for a period of three years.

The lender added that Babbar’s three-year tenure will begin from the date of taking charge, which should be within three months from the date (January 17, 2023), of the said RBI approval.

Also, as per the exchange filing, the proposal for the appointment of Babbar will be placed before the NRC and the Board for consideration and approval in due course.

Babbar, who is currently serving as the Group Head – Transportation, Infrastructure, and Tractor Finance Group at HDFC Bank, has 35 years of experience in the banking sector across various leadership roles.

Prior to this role, he was responsible for building and managing the Rural Banking Group for HDFC Bank, covering farmer finance, MSME loans to intermediaries, related retail assets, and third-party products. Under his leadership, the rural businesses witnessed robust growth, making it one of the best rural franchises in the industry for any bank or financial institution in terms of size and profitability.

Before joining HDFC Bank, he worked with Centurion Bank, Bank of Punjab, and Central Bank of India.

The 56-year-old banker holds a Bachelor of Science, LLB, LLM in Corporate Law & Criminal Law, and is currently pursuing a PhD from NMIMS, Mumbai. He has also completed a leadership development programme from IIM Ahmedabad.

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First Published: Jan 18 2024 | 8:00 PM IST

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