People: HDFC Bank Ltd (HDB)

Mr. Chander Mohan Vasudev is Non-Executive Independent Chairman of the Board of HDFC Bank Ltd. He holds a Master’s Degree in Economics and Physics. He joined the Indian Administrative Services in 1966. Mr. Vasudev has worked as an Executive Director of World Bank representing India, Bangladesh, Sri Lanka and Bhutan. Mr. Vasudev has experience of working at policy making levels in the financial sector and was responsible for laying down policies and oversight of management at World Bank. Mr. Vasudev has worked as Secretary, Ministry of Finance for 8 years and has undertaken assignments, viz. Secretary, Department of Economic Affairs, Department of Expenditure, Department of Banking and Additional Secretary, Budget with responsibility for framing the fiscal policies and policies for economic reforms and for co-ordinating preparation of budgets of the Government of India and monitoring its implementation. He has previously been appointed as a Government nominee Director on the Boards of many companies in the financial sector including State Bank of India, IDBI, ICICI, IDFC, NABARD, National Housing Bank and also on the Central Board of the Reserve Bank of India. He was member secretary of the Narasimham Committee on financial sector reforms. He chaired a committee on reforms of the NBFC sector. He worked as Joint Secretary of Ministry of Commerce with responsibility for state trading, trade policy including interface with WTO. Mr. Vasudev is a Director on the Boards of ICRA Management Consulting Services Limited, Uttarakhand Jal Vidyut Nigam Limited, Star Paper Mills Limited, Power Exchange India Limited, Bedrock Ventures Private Limited, NSDL Database Management Limited and Centinnial Development Advisory Services Private Limited. He is a member of the Audit Committee and the Chairman of the Remuneration Committee of ICRA Management Consultancy Services Limited and the Chairman of the Risk Management Committee and a member of the Audit Committee of Power Exchange India Limited.