/images/ppid_59c68470-image-176892258427238142.webp)
/images/ppid_59c68470-image-176892005411443786.webp)
What is the story about?
The Reserve Bank of India has approved the appointment of Kaizad Bharucha as the whole-time director of HDFC Bank, with effect from April 19, 2026.
The regulatory clearance marks a key board level development for the private sector lender. Bharucha’s appointment comes at a time when HDFC Bank has been making selective changes across its business and product offerings, as highlighted in earlier reports.
Earlier this month, HDFC Bank announced a reduction in rewards on its premium Infinia credit card, effective January 16. Under the revised structure, rewards on SmartBuy vouchers were cut to 3X from 5X, reducing the effective reward rate from about 16.5% to around 10%. Returns on Amazon Pay vouchers were also lowered to 5.77%. The changes aligned Infinia benefits with other premium cards such as Biz Black and Diners Club Black, which offer similar reward rates. Despite the reduction, the card continues to carry its premium annual fee, prompting cardholders to reassess its value proposition.
Also read: HDFC Infinia credit card rewards devalued: Here's what changes from Jan 16
The appointment approval adds to recent developments at the bank, which has been recalibrating certain offerings while maintaining its premium positioning.
Shares of HDFC Bank rose on the NSE, closing at ₹930.50, up ₹2.60 or 0.28% on January 20, 2026.
The regulatory clearance marks a key board level development for the private sector lender. Bharucha’s appointment comes at a time when HDFC Bank has been making selective changes across its business and product offerings, as highlighted in earlier reports.
Earlier this month, HDFC Bank announced a reduction in rewards on its premium Infinia credit card, effective January 16. Under the revised structure, rewards on SmartBuy vouchers were cut to 3X from 5X, reducing the effective reward rate from about 16.5% to around 10%. Returns on Amazon Pay vouchers were also lowered to 5.77%. The changes aligned Infinia benefits with other premium cards such as Biz Black and Diners Club Black, which offer similar reward rates. Despite the reduction, the card continues to carry its premium annual fee, prompting cardholders to reassess its value proposition.
Also read: HDFC Infinia credit card rewards devalued: Here's what changes from Jan 16
The appointment approval adds to recent developments at the bank, which has been recalibrating certain offerings while maintaining its premium positioning.
Shares of HDFC Bank rose on the NSE, closing at ₹930.50, up ₹2.60 or 0.28% on January 20, 2026.
/images/ppid_a911dc6a-image-176892102521474523.webp)
/images/ppid_a911dc6a-image-176892107211836981.webp)
/images/ppid_a911dc6a-image-176892104205539173.webp)
/images/ppid_59c68470-image-176892007553449955.webp)
/images/ppid_59c68470-image-176892010474586546.webp)