Mumbai: Former Reserve Bank of India (RBI) deputy governor Shyamala Gopinath has been appointed non-executive chairperson of HDFC Bank Ltd with immediate effect, the bank said in a statement to the stock exchanges.

Gopinath’s appointment for a three-year term starting Friday was approved by shareholders through a postal ballot, the bank said.

“The RBI has also approved her appointment with effect from the date she assumes charge as chairperson," the bank said in the statement, adding that Gopinath does not hold any shares in the bank.

Gopinath will be paid 30 lakh per year and will use the bank’s car for both official as well as private purposes, HDFC Bank said.

HDFC Bank has been without a chairperson since former Indian Administrative Service (IAS) officer C.M. Vasudev retired as chairman on 26 August 2014.

Gopinath retired as the RBI deputy governor in June 2011 after a 39-year stint at the central bank. She was in charge of financial markets, banking regulation and supervision and foreign exchange management.

HDFC Bank shares ended at 964.95 on the BSE, up 1.4% from the previous close, the benchmark Sensex index rose 1.4% to close at 27,887.90 points.

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