Vinay Razdan resigns as HDFC Bank’s HR head | Mint

HDFC Bank Ltd’s human resources head Vinay Razdan has quit after a nearly seven-year stint at India’s largest private sector lender.

This comes two months after Mint reported that Razdan, chief human resource officer, was leaving. In April, a spokesperson for HDFC Bank said that the bank does not “comment on speculation” and requested “the publication to avoid speculative commentary”.

On Wednesday, the bank informed the exchanges: “Vinay Razdan has tendered his resignation as the Chief Human Resource Officer of the Bank and the Bank has accepted the said resignation with effect from the close of business hours today i.e., 18 June.”

Before working with the bank, he headed the human resource operations for Idea Cellular for 12 years and eight months. He was one of the key senior executives who sewed up the merger with Vodafone India to form Vi. According to his profile on the social media platform LinkedIn, Razdan, a Delhi University graduate, worked with HCL Technologies Ltd for six years and ITC Ltd for 12 years.

In the race

Mint had also reported that one of Razdan’s deputies could be in the race, although the bank will also look at external candidates as well. Meanwhile, Attrition has been a pain point for private sector banks, although it has declined since FY24. HDFC Bank employed 210,219 people as of December end, compared with 208,066 in December 2023.

Experts had said that HDFC Bank, like its rivals, will look at ways to stabilize attrition and push for productivity without hiring in large numbers. In fact, during an earnings call in January, chief financial officer Srinivasan Vaidyanathan had responded to a query about employee headcount going ahead.