HDFC Bank deputy MD Kaizad Bharucha quits after nearly 30 years as Bagchi prepares to take charge

HDFC Bank's deputy managing director Kaizad Bharucha has quit, the country's largest private sector lender announced on Saturday.

Bharucha, who has been with the bank since 1995, "requested cessation" from service from December 31, the bank informed exchanges.

The HDFC Bank board accepted Bharucha's request to be forwarded to the RBI for approval, it added.

The decision to quit comes days before rival ICICI Group veteran Anup Bagchi takes over as Managing Director and Chief Executive of HDFC Bank on October 27. He was reportedly in the race to be elevated as the MD and CEO.