In terms of the provisions of Section 10-A (2A) of the Banking Regulation Act, 1949, no director of a banking company, other than its Chairman or Whole-Time Director, can hold office continuously for a period exceeding eight years. HDFC Bank has informed that Bobby Parikh has completed his eight years tenure on January 26, 2019 and has accordingly relinquished his office as Director of the Bank. The Board places on record its sincere appreciation of the contribution made by Parikh during his tenure with the Bank and wishes him the best for his future endeavors.
The above information is a part of company’s filings submitted to BSE.
