HDFC Credila Education Loan
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Management
Board of Advisors

Mrs. Renu Sud Karnad

Mrs. Renu Sud Karnad is the Managing Director of the HDFC Ltd. She is a graduate in law from the University of Mumbai and holds a Master's degree in economics from the University of Delhi. She is a Parvin Fellow - Woodrow Wilson School of International Affairs, Princeton University, U.S.A. She has been employed with the HDFC Ltd. since 1978 and was appointed as the Executive Director of the HDFC Ltd. in 2000 and was re-designated as the Joint Managing Director of the HDFC Ltd. in October 2007. She has been appointed as the Managing Director of the HDFC Ltd. She is responsible for the Operations, Human Resources and Communications functions of the HDFC Ltd.

Mr. C. B. Chhaya

Retired as Managing Director of Bob Cards Ltd. - a subsidiary of Bank of Baroda on December 2003. The position was in the Top Executive cadre of Bank of Baroda. Managing Credit Cards & Debit Cards.

Before that Mr. Chhaya held following various positions at Bank of Baroda.

  • Zonal Head and Deputy General Manager of Rajashtan Zone
  • Deputy General Manager Corporate Banking Branch Pune
  • Assistant General Manager ‐ Central Inspection Division Corporate office, Mumbai.
  • Regional Manager Jamnagar / Junagadh & Rajkot Regions

Principal Officer for Sultanate of Oman Territory - for 5 1/2 years. Compliance with Regulations of the Central Banking Authority & the country. Separate Balance Sheet, Tax Planning, Forex Dealings, Business Development.

Board of Directors

Mr. V. Srinivasa Rangan

Non-Executive Chairman

Mr. Rangan is the Executive Director of HDFC Ltd. Mr. Rangan, holds a Bachelor's degree in Commerce and is an associate member of the Institute of Chartered Accountants of India and Institute of Cost and Works Accountants of India. Mr. Rangan joined the HDFC Ltd. in 1986 and has served in Delhi and was the Senior General Manager - Corporate Planning & Finance at Head Office since 2000. Mr. Rangan has been appointed as the Executive Director of the HDFC Ltd. He is also a member of the Investors Grievance Committee of Directors with effect from May 4, 2010. He is responsible for the Treasury, Resources and Accounts functions of the HDFC Ltd.

Mr. B. Mahapatra

Independent Director

Mr. Mahapatra was a career central banker. He retired as Executive Director of the Reserve Bank of India at the end of August 2014. Most of his career in the Reserve Bank was in the areas of banking regulation, policy, and supervision. He brings on table his vast experience and insight into banking regulation and policy. Post-retirement, he was retained by the Reserve Bank as an Adviser on a full-time contract basis for six months to oversee new bank licensing process. He has represented the Reserve Bank of India at various national and international fora; the most important being at the Policy Development Group of the Basel Committee on Banking Supervision. In the process, he was closely associated with the formulation of Basel II and Basel III regulations.

He has chaired many committees; the oft spoken one is his report on prudential treatment of restructuring of problem loans by banks and financial institutions. He was also the Member-Secretary to the Committee set up to introduce financial holding company in India.

Mr. Mahapatra has co-authored a book on Derivatives Simplified : An Introduction to Risk Management.

Mr. Sunil Shah

Independent Director

Mr. Sunil Shah is an MBA from Indian Institute of Management, Ahmedabad, India. He is also a certified coach and holds Certificate in Arbitration Law from the Indian Institute of Arbitration and Mediation. He is currently working as a Director with Evergreen partners with successful Business families to accelerate business growth with family harmony through Family Constitutions and Continuity Planning. He has worked as a Managing Director in HDFC Securities Limited (2002-2008) wherein the biggest takeaway was imbibing the high governance level of HDFC Group process and working with all Board Committees such as the Remuneration Committee and the Audit Committee.

Mr. Subodh Salunke

Executive Vice Chairman

Mr. Subodh K. Salunke has a Bachelor's Degree in Commerce and a Master's Degree in Business Administration. He joined HDFC in 1988. He is currently Senior General Manager and deputed to a subsidiary company - HDFC Credila Financial Services Pvt. Ltd. engaged in providing education loans. Prior to this assignment, he was Regional Business Head - Mumbai & Vidharbha for home loans. He was also responsible for Affordable Housing initiative of HDFC. Mr Salunke has also worked in Management Services Division of HDFC. He was responsible for Operations Training at an all-India level. He has also been involved in the development and execution of domestic and international training programmes.

Mrs. Madhumita Ganguli

Non-Executive Director

Mrs. Madhumita Ganguli is a Member of the Executive Management of HDFC Ltd, India's largest mortgage lender. She has a career spanning 33 years with the organization with various responsibilities both in the Legal functions as well as Business Operations of the organisation. She is a lawyer by qualification and through her experience she is a housing finance professional. Her core strengths have been ability to work in large cross functional teams, lead large teams of people with a mix of both senior and junior colleagues, ability to empathise, understand issues with an open mind and find solutions.

She had steered the Business Process Reengineering (BPR) program in HDFC for retail lending which has been successfully rolled out across HDFC offices both nationally as well as internationally. The BPR exercise has helped HDFC accentuate its competitive edge by introducing technology in the underwriting process.

She was a key member of the team that providing consultancy for setting up the operations of Mauritius Housing Finance Company in Mauritius.

She had the opportunity to sit on key committees pertaining to Housing finance. The key amongst them being, the NHB working committee on Standardizing of Loan Documentation for Retail Housing Loans and a committee set up by FICCI to formulate recommendations for Government of India for the Real Estate Sector.

She sits on the boards of an education company i.e. Career Launcher Educate Ltd. and the real estate company of DCM i.e. Purearth Infrastructure Ltd. and has also been a speaker at various international and national seminars on Housing Finance.

Management

HDFC Credila's management team includes professionals with extensive experience in financial services, education, technology and marketing.

Mr. Subodh Salunke

Executive Vice Chairman

Mr. Subodh K. Salunke has a Bachelor's Degree in Commerce and a Master's Degree in Business Administration. He joined HDFC in 1988. He is currently Senior General Manager and deputed to a subsidiary company - HDFC Credila Financial Services Pvt. Ltd. engaged in providing education loans. Prior to this assignment, he was Regional Business Head - Mumbai & Vidharbha for home loans. He was also responsible for Affordable Housing initiative of HDFC. Mr Salunke has also worked in Management Services Division of HDFC. He was responsible for Operations Training at an all-India level. He has also been involved in the development and execution of domestic and international training programmes.

Mr. Arijit Sanyal

Chief Executive Officer

Arijit is an experienced financial services professional with extensive experience across retail, investment and corporate banking in a wide variety of leadership, credit, business and product development roles.

Prior to being appointed Chief Executive Officer at HDFC Credila, Arijit was heading Strategic Planning & New Initiatives for HDFC Limited. At HDFC, Arijit was responsible for driving the development and execution of key strategic initiatives as well as executing new strategic investments in areas linked to HDFC’s core business.

Previously, Arijit worked in Investment Banking with Nomura in London in a Special Situations Proprietary Trading team within Credit Structuring and in Product Strategy in HSBC UK managing global projects of vast scale and complexity. Arijit also had a stint working in a start-up bank in the UK as part of the leadership team as Head of Product. Arijit had a previous stint in HDFC, where he set up and ran the UK operations of HDFC growing it to a substantial profitable business.

Arijit also serves on the Board of Feedback Infra Private Limited which is one of India's leading integrated infrastructure services companies.

Arijit has a Masters in Finance from the London Business School.

Mr. Shridhar Hebbar

Chief Operating Officer

Shridhar Hebbar joined HDFC Credila Financial Services Pvt. Ltd. in March 2011. Prior to joining HDFC Credila, he was with Deutsche Bank AG in their Private & Business Client division for around 5 years with the last assignment being National Sales Head - Developer Channel & Product Head - Unsecured Asset. During his tenor at Deutsche Bank he was also part of Credit Risk Management involved in Senior Risk Management positions handling Collection Support, Centralised Personal Loan Underwriting Team and Mortgage Underwriting for Western & Eastern India.

His past assignment includes Regional Credit Head - West managing the mortgage portfolio at ABN Amro Bank N.V (now RBS), Area Sales Manager - Vidarbha & Chhatisgarh with ICICI Group in their Home Loan vertical.

He also has spent time with Gruh Finance Limited in his initial days. Overall, Shridhar has 20 years experience in the financial services sector.

Shridhar Hebbar is a Master of Management Studies & Bachelor of Electrical Engineering from Goa University with a Diploma in Business Finance from ICFAI, Hyderabad.

Mr. Sebastian Fernandez

Chief Risk Officer

Sebastian is presently responsible for overseeing the management and co-ordination of all financial reporting activities for the company and developing and maintaining systems of internal control to safeguard the financial assets of the company; compliances; handling investor relations; managing the debt raising efforts of HDFC Credila by way of bank borrowings, commercial papers, debentures, etc. and developing business models. In addition to this, Sebastian is a member of the ALCO and Risk Management Committee of the Company.

Sebastian joined HDFC Credila in July 2007 as part of the core project team that set up credit, operations, risk and compliance framework pan India and was instrumental in formulating the Credit Policy and loan related documentation.

Prior to joining HDFC Credila, he worked with the Compliance & Risk team of ICICI Bank’s Retail Assets Product Group and has also held various roles in audit and finance in different industries.

Sebastian is a Chartered Accountant & Chartered Financial Analyst (ICFAI) by qualification having over twelve years post qualification experience with a decade long experience in the Banking & Financial Services Industry.

Mr. Hitesh Parashar

National Sales Manager

Hitesh joined HDFC Credila Financial Services Pvt. Ltd. in Oct. 2013. He has a distinguished career in retail and channel sales spanning 11 years in Personal Loans, Business Loans, LAP, Home Loans, Credit/Debit cards and Auto Loans across different locations in India. He has also managed outbound telesales, portfolio analytics and customer service escalations for his previous organizations and has unmatched experience in leading large cross functional teams to attain common business goals.

He started his career with Hindustan Petroleum as Retail Sales Officer and managed their retail network in Punjab and Himachal for fuel sales and loyalty cards. Subsequently he worked with GE and ICICI Bank in their Retail lending and Credit Card divisions. His last assignment was with Fullerton India where he managed Delhi Cluster for Branch network and Direct Sales Channel.

Hitesh Parashar holds Bachelor of Engineering in Instrumentation from Bhavnagar University and PGDBM from IMT Ghaziabad.

Chandini Sehgal

Head - Marketing & Channels

Chandini has a rich experience in both FMCG and the Financial Sector. During her stint with Glaxo SmithKline Consumer Healthcare, she has held multiple positions including being a part of the core team to launch the Vending Business. She also introduced unique marketing tools while heading Business Development in the Western Region

Her diverse experience with ABN AMRO Bank in the premium Cards and Preferred Banking division, adds to her versatile exposure to multiple products and sectors.

She has been working with HDFC Credila since 2010, scriptwriting the story of HDFC Credila and creating the brand ’HDFC Credila’ as we know it today. Her creative streak & passion for innovative marketing has led to HDFC Credila pioneering some extremely innovative & trend setting marketing initiatives & channel development tools.

She has earned her MBA degree from Symbiosis Institute of Business Management (SIBM), Pune. She has been a sharp shooter, an athlete, loves travelling & adventure sports.

HDFC Credila Financial Services Pvt. Ltd., Formerly known as Credila Financial Services Pvt. Ltd. is a Subsidiary of HDFC Limited. HDFC is leading financial services company of India.
HDFC Credila Financial Services Private Limited Registered Office: B 301, Citi Point, Andheri‐Kurla Road, Andheri (East), Mumbai‐400 059, India