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Mumbai: Private sector lender HDFC Bank on Friday announced an internal reorganization that would see it form three distinct focus areas namely, business verticals, delivery channels, and technology.

This, the bank said, will further build its execution muscle in all the three areas and be ready for the future. It has named this exercise, Project Future – Ready. The creation of focused business verticals and delivery channels will enable it to capitalize on the opportunities across customer segments in the time to come, the bank said in a statement.

“The bank will re-double its efforts on its business verticals that include corporate banking, retail banking, private banking, government and institutional banking, retail assets and payments," it said.

In addition, the bank said it will increase its focus on commercial banking to bring its product and digital might to the entire commercial banking in a much more holistic manner.

As part of the reorganization, Rahul Shyam Shukla, group head, will now be responsible to drive the commercial banking and rural vertical; Kaizad Bharucha, executive director, will continue to drive the wholesale bank; Smita Bhagat, group head – government and institutional business, will also drive the expansion of rural presence; Arvind Kapil, group head – retail assets and SLI, will continue to drive the retail assets portfolio.

That apart, Rakesh Singh, group head – investment banking and private banking will also be responsible for marketing, retail liability products and managed programmes; Parag Rao, group head - payments business, will now drive the technology transformation and digital agenda; Ashish Parthasarathy- group head, treasury and GIB would also provide the leadership for the tele-service, sales and relationship channel; Bhavesh Zaveri, group head – operations, will be additionally responsible for the entire ATM channel operations across the country.

"We are creating engines of growth with top tier talent backed by technology and digital transformation to capitalize on opportunities that will accrue in the coming time," said Sashi Jagdishan, managing director, HDFC Bank.

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