New Delhi, Sept. 13 -- HDFC Bank, on Saturday, said that the board has approved the submission of two candidates, in order of preference, for appointment as the bank's Managing Director and Chief Executive Officer (MD & CEO) for a three-year term. The proposal will now require approval from the Reserve Bank of India (RBI), the lender said in an exchange filing.

The decision was taken at the board meeting on 12 September, based on recommendations from the Governance, Nomination and Remuneration Committee. The proposal has been made in line with the Banking Regulation Act and the RBI's Commercial Banks - Governance Directions, 2025.

HDFC Bank did not reveal the names of the two shortlisted candidates. It said their proposed remuneration p...