Money & Banking

HDFC Bank says recent exits of honchos in normal course

Our Bureau Mumbai | Updated on July 14, 2020 Published on July 14, 2020

Private sector lender HDFC Bank on Tuesday said that recent high-level exits are in the normal course and has nothing to do with the lending business.

“Ashok Khanna, who was on an extension of service retired on March 31, 2020, in the normal course of his employment,” it said in a statement.

“Munish Mittal’s exit is a separate event, as he’s decided to pursue higher studies at a foreign university and we wish him all the very best,” it further said, adding that he is yet to serve his last day in the bank which the bank announce soon, along with his replacement.

Mittal, Group Head-Information Technology and Chief Information Officer, HDFC Bank, joined the bank in August `996, and has now worked with the lender for 24 years.

Khanna too was a long-standing executive with the bank, and was Group Head – Automobile Loans.

“Successful, mature organisations have it in them to take executive exits in their stride. We have a strong leadership pipeline that has stood us well so far and will do so as we stay on a strong and consistent path of growth into the future,” the private sector lender said.

It also stressed that it has a robust policy and process to deal with complaints and allegations and take appropriate action.

“It is also important to clarify here that this matter is not related in any manner whatsoever to the lending aspect of the business. Therefore, there’s no question of this having any bearing on the ‘loan book’ or causing any loss to the bank,” it said.

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Published on July 14, 2020
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