HDFC Bank has submitted two undisclosed candidates to the Reserve Bank of India (India’s central bank) for approval as it begins the succession process for CEO Sashidhar Jagdishan, who is due to step down in October after his second term. Indian banking rules require private-sector lenders to secure prior RBI approval for managing director and CEO appointments, giving the regulator a central role in vetting senior management. The bank also reappointed V. Srinivasa Rangan as a whole-time director and appointed Chief Credit Officer Jimmy Tata to the board in the same capacity. HDFC Bank plans to create a fourth whole-time director position for the incoming CEO.