Mumbai, Sept. 12 -- HDFC Bank's board has approved the submission of two candidates, in order of preference, for appointment as the bank's Managing Director and Chief Executive Officer for a three-year term, with the proposal now pending approval from the Reserve Bank of India, the bank said in an exchange filing on Saturday.

The board approved the proposal at its meeting on Saturday based on the recommendations of its Governance, Nomination and Remuneration Committee and in accordance with the Banking Regulation Act and RBI's Commercial Banks - Governance Directions, 2025.

The bank did not disclose the names of the two candidates in the filing. It said the candidates' proposed remuneration would also be submitted to the RBI for approva...