HDFC Bank names ICICI veteran banker V.N. Srivatsan as Chief Compliance Officer

HDFC Bank on Wednesday appointed V.N. Srivatsan as its Chief Compliance Officer for a three-year term, with the executive set to join the lender on January 4, 2027, according to an exchange filing.

The appointment was approved by the bank’s board at its meeting on Wednesday based on recommendations from the Audit Committee and the Governance, Nomination and Remuneration Committee. Srivatsan’s three-year term will begin from his date of joining, HDFC Bank said.

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Rakesh Kumar Rajput, who has served as HDFC Bank’s Chief Compliance Officer since October 1, 2023, completed his three-year tenure at the close of business hours on September 30, 2026.

Until Srivatsan joins, Venkateswaran L, currently Compliance Head - Credit, Asset Product & Regulatory Reporting, will hold the responsibility of Chief Compliance Officer, the bank said.

Who is V.N. Srivatsan?

Srivatsan currently serves as Head – Compliance: Overseas Banking and Subsidiaries & Data Privacy Officer at ICICI Bank. He has approximately 34 years of overall professional experience, including around 25 years in the banking, financial services and insurance (BFSI) sector and nearly 10 years of direct experience in compliance and regulatory inspection.

He has previously led Retail Banking Compliance and Regulatory Inspection for more than eight years. His responsibilities have included regulatory compliance oversight, regulatory inspections, designing and implementing compliance frameworks and policies, and working with senior management, the Audit Committee, the Board and regulators.

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Srivatsan holds a postgraduate degree in Business Administration from PSG College of Technology and a Bachelor of Technology degree from Sri Venkateshwara University.

HDFC Bank said the appointment is in accordance with the Reserve Bank of India (Commercial Banks- Compliance Function) Directions, 2026. Srivatsan will join as a full-time employee of the bank.

Meanwhile, Rajput, who also remains a full-time employee of HDFC Bank, holds a B.Sc. (Honours) degree, is a Certified Associate of the Indian Institute of Bankers and has an Advanced Diploma in Business Management.