People: HDFC Bank Ltd (HDBK.BO)
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. Mr. Vasudev 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 chaired the World Bank’s Committee on development effectiveness with responsibility of ensuring effectiveness of World Bank’s operations and has also worked as a consultant to the World Bank and UNDP on various development policy issues. Mr. Vasudev has also worked as Secretary, Ministry of Finance for more than 8 years and has undertaken various 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. Mr. Vasudev was also the Principal Secretary, Finance of the Government of Uttar Pradesh. Mr. Vasudev has previously been appointed as a Government nominee Director on the Board of Directors 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. Mr. Vasudev was also a member secretary of the Narasimham Committee on financial sector reforms and chaired a Committee on reforms of the NBFC sector. Mr. Vasudev has worked as Joint Secretary of Ministry of Commerce with responsibility for state trading, trade policy including interface with WTO. Mr. Vasudev is Director on the boards of ICRA Management Consulting Services Limited, Star Paper Mills Limited, Power Exchange India Limited.
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