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Private sector lender HDFC Bank, on Tuesday, said that the recent high-level exits are in normal course. “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 will announce soon along with his replacement.

Mittal, who is Group Head- Information Technology and Chief Information Officer, HDFC Bank, has worked with the lender for 24 years after joining in August 1996.

Khanna, too, was a long-standing executive with the bank, and was the Group Head of 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 action as appropriate.

“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 ‘loan book’ or causing any loss to the bank,” it said.

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