RBI Approval Process for HDFC Bank’s Next Managing Director Explained

The RBI requires banks to initiate succession planning at least six months before the incumbent’s term ends, involving both internal and external candidates. The bank’s nomination and remuneration committee will compile a list, after which the RBI reviews the credentials, experience and compliance with service‑duration rules. Once the board approves a candidate, the central bank’s nod is the final step before the appointment becomes official.