Renu Sud Karnad

Renu Sud Karnad is an Indian businesswoman and the managing director of India's largest Mortgage Financier Housing Development Finance Corp. Ltd. Additionally she also holds seven other positions for companies like HDFC Property Ventures Ltd., HDFC Education & Development Services Pvt Ltd. (both are subsidiaries of HDFC Ltd.) and Non-Executive Chairman at GlaxoSmithKline Pharmaceuticals Ltd. She is also the Vice Chairman-Governing Council at Indraprastha Cancer Society and Research Centre and part of the board of 17 other companies.^[1][2]

Renu Sud Karnad
Ms Renu Sud Karnad with erstwhile Railway minister Suresh Prabhu
Born	India
Nationality	Indian
Citizenship	Indian
Alma mater	University of Mumbai, University of Delhi, Princeton University
Organization	Housing Development Finance Corporation

Career

Karnad has been the MD of HDFC Ltd since 2010. After graduating with a law degree from the University of Mumbai and a degree in economics from the University of Delhi, she started her career with HDFC at the age of 26 in the year 1978. She took a short break later to study International Affairs at Princeton University in 1984.^[3] Karnad was the pursuant of the then new hub and spoke model for banking services introducing easy access by delivering loans at the point of contact.^[4] Her efforts in the early years led her to become the head of lending business at HDFC.^[5] In the year 2000, she was appointed as an executive director in the company. She was designated as the joint managing director in 2007 and promoted to the post of Managing director in 2010. Since then she has been at the helm of affairs. In 2022 she was reappointed as director by the HDFC board. Karnad has been largely credited with the steady growth of HDFC bank over the span of 3 decades.^[6]

In 2013, she was listed as one of the Fortune India magazine’s most powerful women in business in India for 8 years from 2011 to 2019.^[7][8] She was also listed as the Top 10 women to watch out for in Asia by the Wall Street Journal.^[9] Karnad was among the highest paid non promoter executive in the year 2019.^[10] In 2020, she was shortlisted by a panel seeking to find a successor to Aditya Puri.^[11][12] Karnad has been the jury for the SABERA awards that acknowledges SDG and ESG aligned initiatives in the field of CSR.^[13] Karnad has been credited with the herculean growth of the bank and its success in the current form. She has also been instrumental in getting the merger of HDFC bank with its parent company HDFC. Prior to the HDFC merger Karnad gave up her directorship positions with Maruti Suzuki and ABB India.^[14][15]

Personal life

Karnad is married to strategic affairs analyst Bharat Karnad.^[16]

Views on industry

Karnad is an optimist who sees housing as an asset that wouldn't depreciate. She is also of the opinion that investments in housing contribute to nation building in a way as 270 allied industries get employment from the housing sector.^[17] She also appreciates the maturity of the Indian consumers stating that despite several bank frauds, the consumers have reposed the faith in the banking system.^[18]

References

1. "GLAXO.IN Company Profile & Executives - GlaxoSmithKline Pharmaceuticals Ltd". Wall Street Journal. Retrieved 3 June 2023.
2. Livemint (16 April 2022). "HDFC Bank board approves re-appointment of Renu Karnad as director". mint. Retrieved 18 April 2022.
3. "Madam Brand Guardian". The Economic Times. 23 May 2007. Retrieved 3 June 2023.
4. "Most Powerful Women in Indian Business: Renu Sud Karnad shares her most memorable professional moments". Business Today. Retrieved 18 April 2022.
5. "Power Women". The Financial Express. 30 December 2007. Retrieved 18 April 2022.
6. "Renu Karnad Net Worth (2022) – wallmine.com". in.wallmine.com. Retrieved 18 April 2022.
7. Arpita Mukherjee (31 August 2013). "They dreamt, they conquered. Meet the most powerful women in Indian business". India Today. Retrieved 18 April 2022.
8. "The Managing Director of HDFC has all the reasons to be happy". Business Today. Retrieved 18 April 2022.
9. "The Placement Cell, Miranda House" (PDF).
10. "Here's counting the zeros on pay cheques of India's best-paid women execs". VCCircle. 29 November 2019. Retrieved 18 April 2022.
11. "Renu karnad | Latest News on Renu-karnad | Breaking Stories and Opinion Articles". Firstpost. Retrieved 18 April 2022.
12. "Glaxo Smithkline" (PDF).
13. admin (9 November 2021). "SABERA Awards Jury Led by HDFC MD Renu Sud Karnad Enters Final Round of Winner Selection". Bhaskar Live English News. Retrieved 18 April 2022.
14. www.ETAuto.com. "Renu Karnad steps down from Maruti Suzuki's Board Director role - ET Auto". ETAuto.com. Retrieved 2 May 2022.
15. "Renu Sud steps down from ABB India; stock settles 1% lower". www.indiainfoline.com. Retrieved 2 May 2022.
16. "The men behind the power women". Business Today. Retrieved 18 April 2022.
17. "Housing as an asset will not depreciate: HDFC's Renu Sud Karnad". www.fortuneindia.com. Retrieved 19 April 2022.
18. "Housing as an asset will not depreciate: HDFC's Renu Sud Karnad". www.fortuneindia.com. Retrieved 19 April 2022.