[Form 3] HDFC BANK LTD Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

HDFC Bank Ltd executive Anil Bhavnani, Group Head - Transportation, reported his initial insider holdings. As of March 17, 2026, he directly owns 697,436 Equity Shares of HDFC Bank. He also holds multiple employee stock options over Equity Shares at fixed exercise prices in rupees, with expirations extending into the next several years. A footnote states a currency conversion rate of 1 Indian rupee = 0.011 U.S. dollars as of March 16, 2026.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Bhavnani Anil

(Last) (First) (Middle)

HDFC BANK LIMITED, HDFC BANK HOUSE

SENAPATI BAPAT MARG, LOWER PAREL WEST

(Street)

MUMBAI K7 400013

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
HDFC BANK LTD [ HDB ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Group Head - Transportation

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Equity Shares	697,436	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	10/24/2024	10/24/2026	Equity Shares	54,400	$6.8(1)	D
Employee Stock Option (Right to Buy)	07/31/2024	07/31/2026	Equity Shares	21,800	$7.85(1)	D
Employee Stock Option (Right to Buy)	07/31/2025	07/31/2027	Equity Shares	21,400	$7.85(1)	D
Employee Stock Option (Right to Buy)	09/26/2023	09/26/2027	Equity Shares	18,800	$7.85(1)	D
Employee Stock Option (Right to Buy)	09/26/2024	09/26/2028	Equity Shares	18,800	$7.85(1)	D
Employee Stock Option (Right to Buy)	09/26/2025	09/26/2029	Equity Shares	18,800	$7.85(1)	D
Employee Stock Option (Right to Buy)	09/26/2026	09/26/2030	Equity Shares	18,600	$7.85(1)	D
Employee Stock Option (Right to Buy)	10/29/2025	10/29/2029	Equity Shares	17,400	$9.54(1)	D
Employee Stock Option (Right to Buy)	10/29/2026	10/29/2030	Equity Shares	17,400	$9.54(1)	D
Employee Stock Option (Right to Buy)	10/29/2027	10/29/2031	Equity Shares	17,400	$9.54(1)	D
Employee Stock Option (Right to Buy)	10/29/2028	10/29/2032	Equity Shares	17,520	$9.54(1)	D
Employee Stock Option (Right to Buy)	09/18/2026	09/18/2030	Equity Shares	9,300	$10.63(1)	D
Employee Stock Option (Right to Buy)	09/18/2027	09/18/2031	Equity Shares	12,400	$10.63(1)	D
Employee Stock Option (Right to Buy)	09/18/2028	09/18/2032	Equity Shares	15,500	$10.63(1)	D
Employee Stock Option (Right to Buy)	09/18/2029	09/18/2033	Equity Shares	24,710	$10.63(1)	D

Explanation of Responses:

1. Conversion rate as on March 16, 2026 applied : 1Rs = 0.011 USD

Remarks:

Exhibit 24 - Power of Attorney Group Head - Transportation

	/s/ Dhanjit Thaivalappil, Attorney in fact for Bhavnani Anil	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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