Mumbai, March 18 -- Abhay Bhutada, the current MD of the company has taken an early retirement effective from close of business hour 23 June 2024, however he will continue as non-executive director on the board of Poonawalla Fincorp.

The company stated that it has appointed Arvind Kapil as an additional director in the capacity of MD & CEO based on the recommendation of the nomination and remuneration committee, subject to the approval of shareholders of the company.

Arvind Kapil serves as HDFC Bank's Group Head overseeing the mortgage banking business with a book size of 7.5 lakh crore. Within this role, he is responsible for managing the entire home loans portfolio, loan against property (LAP), and HDFC Sales.

Kapil having an experie...