HDFC Bank Limited has informed the Exchange about Retirement
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HDFC Bank has informed the exchanges that Mr. Parag Rao, Group Head of Payments Business, Liability Products, Consumer Finance & Marketing, has retired (superannuated) from the Bank with effect from close of business hours on September 30, 2025. Consequently, he has also ceased to be a Senior Management Personnel of the Bank. Mr. Rao had a 23-year tenure with the Bank and was instrumental in building the Payments Business vertical, under whose leadership HDFC Bank became a market leader in Credit Cards issuance and Merchant Acquiring. He also led the Technology, Digital Banking, Marketing and Liabilities Product functions during his career.
This is a planned retirement (superannuation) of a senior leader responsible for a key revenue vertical (Payments, Credit Cards, Merchant Acquiring). Investors should watch for an internal successor announcement; the departure is unlikely to be disruptive in the near term but leadership continuity in the high-margin payments business will be monitored.