Non-Executive (Non-Independent) Director
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Mrs. Renu Sud Karnad

Mrs. Renu Sud Karnad, aged 72 years, was the Managing Director of Housing Development Finance Corporation Limited (“HDFC Limited”) prior to its amalgamation with the Bank w.e.f. July 1, 2023. 

She is a post graduate in Economics and Law.  She is a Parvin Fellow, Woodrow Wilson School of International Affairs, Princeton University, USA. She brings with her rich experience and enormous knowledge of the mortgage sector, having been associated with real estate & mortgage industry in India for over 40 years. 

Mrs. Karnad joined HDFC Limited in 1978 and was inducted onto its Board in 2000. She has been instrumental in building the retail distribution network at HDFC Limited and has played key role in introducing several innovative & customer friendly products and services in the mortgage market. Apart from being HDFC Limited’s brand custodian, Mrs. Karnad was the guiding force behind formulation of the organisation’s communication strategy, digital transformation, and public image.  

As a part of the management team, Mrs. Karnad has played an important role in the successful transformation of HDFC Limited into India’s leading Financial Services Conglomerate. Mrs. Karnad has served as the President of International Union for Housing Finance (IUHF), an association of housing finance firms present across the globe till 2024.  She has also served as a Director, Asian Real Estate Society. 

Over the years, Ms. Karnad has had to her credit, numerous awards and accolades. She was awarded "Outstanding Woman Business Leader" at the CNBC-TV18 Indian Business Leader Awards (IBLA) 2012, was part of the 25 Most Influential Women Professionals in India – India Today Magazine’s power list 2011, has featured in the ET – Corporate Dossier list of India Inc’s ‘Top 15 powerful women CEOs’ in 2010, Verve, international magazine’s list of 50 power women in 2010 and in Business Today magazine's list of 'Most Powerful Women in Indian Business' for seven years up to 2012, in year 2013 she was inducted into Hall of Fame, Fortune India Magazine’s most powerful women from 2011 to 2018, has featured amongst the list of '25 top non-banking women in finance' by U.S. Banker magazine in 2008, In 2006, Wall Street Journal Asia adjudged her among the 'Top Ten Powerful Women to Watch Out for in Asia'. 

Mrs. Karnad is currently the Chairperson of GlaxoSmithKline Pharmaceuticals Limited and PayU Payments Private Limited apart from being a director on the boards of HDFC Asset Management company Limited, HDFC ERGO General Insurance company Limited, HDFC Capital Advisors Limited, Bangalore International Airport Authority Limited, EIH Limited and Nudge Life skills Foundation.  

Mrs. Karnad does not hold full-time position in any other company or body corporate.