HDFC Bank’s Chief Human Resources Officer, Vinay Razdan, resigned after nearly seven years, effective June 18, 2025. The announcement, made on June 19, 2025, at 04:30 PM IST, follows speculation, with the bank now seeking a successor amid its post-merger transition and workforce stabilization efforts.
Mumbai, June 19, 2025, 04:30 PM IST – In a significant development, HDFC Bank, India’s largest private sector lender, announced the resignation of its Chief Human Resources Officer (CHRO), Vinay Razdan, effective from the close of business hours on June 18, 2025. The bank confirmed the departure in a regulatory filing, marking the end of Razdan’s nearly seven-year tenure with the organisation.
Razdan, who joined HDFC Bank in September 2018, played a pivotal role in shaping the bank’s human resources strategy. Before joining HDFC Bank, he served as CHRO at Idea Cellular for over 12 years, where he was instrumental in the merger with Vodafone India to form Vi. His career also includes stints at HCL Technologies and ITC Ltd, bringing a wealth of experience to his role at the bank.
The resignation comes two months after media reports in April 2025 speculated about Razdan’s potential exit, which the bank had dismissed as speculation at the time. A bank spokesperson had stated, “We do not comment on speculation and request the publication to avoid speculative commentary.” However, the official confirmation on Wednesday has now ended the uncertainty. The bank has not disclosed why Razdan resigned, adhering to standard practice under SEBI norms.
In his resignation letter dated June 2, 2025, Razdan mentioned he would proceed on a three-month “gardening leave” during his notice period, unless otherwise directed by the bank. This period typically allows senior executives to disengage from active duties while transitioning out of the organisation.
HDFC Bank is already in the process of identifying a successor, with internal candidates from Razdan’s core team and external profiles under consideration. Industry experts suggest that the bank may look to stabilise its workforce and address ongoing challenges like attrition, which dropped from 34.15% in FY23 to 26.9% in FY24. During a January 2025 earnings call, Chief Financial Officer Srinivasan Vaidyanathan emphasised the bank’s focus on productivity and controlled hiring, noting an increase of just 2,000 employees over 12 months.
Razdan’s exit coincides with a transition period for HDFC Bank, following its landmark merger with HDFC Ltd in July 2023, which created a financial services giant with assets exceeding ₹18 lakh crore. His departure has sparked discussions on social media platforms, with some users speculating about internal governance issues, though no official evidence supports such claims.
The bank’s stock price experienced a slight dip of 0.35% to ₹1,927 on Thursday morning but recovered to trade 0.14% higher at ₹1,936.65 by 9:35 AM on the BSE. This minor fluctuation reflects market stability despite the leadership change.
HDFC Bank has not yet named an interim or permanent replacement for Razdan. Stakeholders will be watching closely as the bank navigates this transition while maintaining its position as a leader in India’s banking sector.
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Disclaimer: This article is based on information from regulatory filings and media reports as of June 19, 2025, 04:25 PM IST. Always refer to official sources for the most accurate details.
