/images/ppid_59c68470-image-178115003097166455.webp)
/images/ppid_59c68470-image-178134502873014719.webp)
What is the story about?
RBL Bank is likely to appoint HDFC Bank executive Bhavin Lakhpatwala as its Chief Financial Officer, according to two people familiar with the development.
The appointment would end a more than five-month search for a permanent finance chief at the private sector lender, and comes at a pivotal moment for the bank, with the Emirates NBD ownership transition on the verge of completion.
CNBC-TV18 has learnt that Lakhpatwala, who currently serves as Head of Strategy, Investor Relations and Business Finance at HDFC Bank, has already submitted his resignation to the Mumbai-based lender.
Lakhpatwala, however, did not comment on the development when contacted by CNBC-TV18.
The CFO vacancy
The CFO position at RBL Bank has remained vacant since December 2025, when Buvanesh Tharashankar resigned to join Manappuram Finance. The bank appointed Deputy CFO Deepak Ruiya as interim CFO with effect from December 30, 2025, pending the appointment of a permanent successor.
Who is Bhavin Lakhpatwala?
Lakhpatwala has spent more than 22 years with HDFC Bank across two stints. He first joined the bank in 2000 and worked in its finance function before moving to Ageas Federal Life Insurance in 2007. During his four-year stint at the insurer, he served in senior finance roles and was part of the team that helped build the company's finance function.
He returned to HDFC Bank in 2011 and subsequently held a series of leadership positions spanning corporate finance, investor relations, business intelligence, strategy and performance management.
Most recently, he has been leading the bank's business finance, investor relations and strategic initiatives functions. Prior to that, Lakhpatwala headed corporate finance at HDB Financial Services during a deputation stint, where he was responsible for treasury-related activities, fundraising and finance operations.
Key leadership hire for RBL Bank
The CFO appointment lands squarely in the middle of what is shaping up to be the most consequential ownership change in RBL Bank's recent history.
In October 2025, Emirates NBD and RBL Bank signed definitive agreements for the Dubai-based lender to acquire a controlling stake in the bank through a primary capital infusion of approximately $3 billion. With all regulatory and governmental approvals now secured, the deal is in its final lap.
Filling the critical CFO role, therefore, would be important at this juncture, especially as RBL Bank navigates the ownership transition, overseeing the eventual branch amalgamation, and helping the incoming promoter establish financial governance frameworks for a bank that will now operate as a foreign bank subsidiary under RBI rules.
CNBC-TV18 has reached out to RBL Bank and HDFC Bank for comment and is awaiting their responses.
The appointment would end a more than five-month search for a permanent finance chief at the private sector lender, and comes at a pivotal moment for the bank, with the Emirates NBD ownership transition on the verge of completion.
CNBC-TV18 has learnt that Lakhpatwala, who currently serves as Head of Strategy, Investor Relations and Business Finance at HDFC Bank, has already submitted his resignation to the Mumbai-based lender.
Lakhpatwala, however, did not comment on the development when contacted by CNBC-TV18.
The CFO vacancy
The CFO position at RBL Bank has remained vacant since December 2025, when Buvanesh Tharashankar resigned to join Manappuram Finance. The bank appointed Deputy CFO Deepak Ruiya as interim CFO with effect from December 30, 2025, pending the appointment of a permanent successor.
Who is Bhavin Lakhpatwala?
Lakhpatwala has spent more than 22 years with HDFC Bank across two stints. He first joined the bank in 2000 and worked in its finance function before moving to Ageas Federal Life Insurance in 2007. During his four-year stint at the insurer, he served in senior finance roles and was part of the team that helped build the company's finance function.
He returned to HDFC Bank in 2011 and subsequently held a series of leadership positions spanning corporate finance, investor relations, business intelligence, strategy and performance management.
Most recently, he has been leading the bank's business finance, investor relations and strategic initiatives functions. Prior to that, Lakhpatwala headed corporate finance at HDB Financial Services during a deputation stint, where he was responsible for treasury-related activities, fundraising and finance operations.
Key leadership hire for RBL Bank
The CFO appointment lands squarely in the middle of what is shaping up to be the most consequential ownership change in RBL Bank's recent history.
In October 2025, Emirates NBD and RBL Bank signed definitive agreements for the Dubai-based lender to acquire a controlling stake in the bank through a primary capital infusion of approximately $3 billion. With all regulatory and governmental approvals now secured, the deal is in its final lap.
Filling the critical CFO role, therefore, would be important at this juncture, especially as RBL Bank navigates the ownership transition, overseeing the eventual branch amalgamation, and helping the incoming promoter establish financial governance frameworks for a bank that will now operate as a foreign bank subsidiary under RBI rules.
CNBC-TV18 has reached out to RBL Bank and HDFC Bank for comment and is awaiting their responses.
/images/ppid_a911dc6a-image-178134603277585320.webp)
/images/ppid_a911dc6a-image-178134584746315005.webp)
/images/ppid_a911dc6a-image-178134582126276200.webp)
