Deepak M Satwalekar

Deepak M Satwalekar became a director of the Company in July 2020. Mr. Satwalekar is a member of our Audit, Risk and Compliance Committee and Administrative and Shareholders/Investors Grievance Committee. Mr. Deepak M Satwalekar was the Managing Director of HDFC Ltd., India’s first and largest specialized provider of housing finance. He then became Managing Director and CEO of HDFC Standard Life Insurance Co. Ltd. (2000-2008), the first private-sector life insurance company registered in India after 1956.

Mr. Satwalekar has also been a consultant to the World Bank, the Asian Development Bank, the United States Agency for International Development (USAID), and the United Nations Human Settlements Programme (HABITAT). He serves on the India Advisory Board of a large European bank, and is active on advisory boards of several non-profit organizations supporting primary education for the low-income and underprivileged communities in rural and urban India. He is on the board of SINE, a technology incubator at IIT, Bombay. He also advises a venture capital fund.

Mr. Satwalekar has chaired the RBI Committee on corporate governance in public sector banks, and was a member of several industry and government/regulatory authority committees, including IRDA and PFRDA. He received the Distinguished Alumnus Award from the Indian Institute of Technology (“IIT”), Bombay. He is currently the Chairman on the Board of Governors of the Indian Institute of Management, Indore.

Mr. Satwalekar is on the boards of Asian Paints Limited, Piramal Enterprises Limited, Piramal Capital and Housing Finance Limited, Home First Finance Company India Limited and Germinait Solutions Private Limited. Mr. Satwalekar is the Chairman of Corporate Social Responsibility Committee and Stakeholders Relationship Committee of Piramal Enterprises Limited, member of Audit Committee, Corporate Social Responsibility Committee and Investment Committee of Asian Paints Limited and member of Nomination and Remuneration Committee of Piramal Capital and Housing Finance Limited.

Mr. Satwalekar holds a Bachelor’s Degree of Technology in Mechanical Engineering from Indian Institute of Technology, Bombay and Masters in Business Administration from The American University, Washington D.C., USA.

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