HDFC Bank’s long-serving Chief Human Resource Officer (CHRO), Vinay Razdan, has stepped down from his role, the bank confirmed in a filing to the Bombay Stock Exchange (BSE) on Wednesday. His last working day was June 18, 2025.
The official communication didn’t offer any explanation for his departure. “This is to inform you that Mr. 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., June 18, 2025,” the bank stated.
Veteran HR Leader Bows Out
Razdan is a well-known name in India’s corporate HR circles. He had been with HDFC Bank since September 2018, nearly completing six years and ten months with the country’s largest private sector lender.
Before HDFC Bank, he spent over 12 years at Idea Cellular, where he was a key member of the leadership team during some of the most significant phases in India’s telecom evolution. His stint there began in 2006.
Prior to that, he worked with HCL Technologies from 2000 to 2006, where he held the post of Associate Vice President – HR. Razdan began his career back in 1988 as an HR manager at ITC Limited, one of India’s leading FMCG giants.
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A Well-Educated, Well-Rounded Career
Razdan graduated from Delhi University (1983–1986) and later pursued his PM&IR (Personnel Management & Industrial Relations) from XLRI Jamshedpur, one of India’s top HR institutes. He completed his program in 1988, after which he began his professional journey.
With over three decades of experience, Razdan had become a respected voice in the human resources space. His nearly seven-year tenure at HDFC Bank saw the organization scale up significantly, both in terms of workforce size and geographical footprint.
Timing of Exit Raises Questions
Interestingly, reports had been circulating for some time about Razdan’s possible exit. A Mint report published in April 2025 had hinted that the senior executive was preparing to leave, but the bank had denied the news at that time.
Now, with the resignation official, speculation is once again surfacing over why the veteran chose to leave — particularly at a time when private sector banks in India are grappling with high attrition rates.
Attrition Looms in the Background
Razdan’s exit comes against the backdrop of increasing churn within the banking industry. According to available data, HDFC Bank had 210,219 employees on its payroll as of December 2024, up marginally from 208,066 in December 2023.
But experts say this growth hides the bigger story — high attrition among experienced staff, rising workloads, and the pressure to digitally transform post-COVID have made it harder for banks to retain top talent.
While there’s no official link between this trend and Razdan’s resignation, his departure at such a pivotal time has added to the conversation.
The bank has not yet named a successor or interim CHRO. For now, Razdan’s departure leaves a gap at the top of the HR chain—one that HDFC Bank will need to fill carefully, especially with employee sentiment and hiring practices under scrutiny across the industry.
