Mr. Parag Rao is the Country Head for the Country Head – Payments, Consumer Finance, Digital Banking and Marketing at HDFC Bank Ltd. The Payments Business includes Debit Cards, Credit Cards, Prepaid & Commercial Cards, Merchant Acquiring Services, Digital Payments Infrastructure, and Consumer Finance Business. He spearheads Digital Banking, and also Marketing which includes Brand Communication and Analytics functions.
Mr. Rao joined the bank in 2002 as Head, Sales & Distribution – Credit Cards. With his vast knowledge & understanding of technology trends, customer behaviour, credit forecasting, P&L management, sales and marketing, he has been instrumental in building a profitable as well as sustainable Payments Business that has seen multiple credit cycles with ease. Under his leadership, HDFC Bank has grown to become market leader in the Payment Businesses (Cards and Acquiring) in the country and has retained the position over the years.
In addition to his business responsibilities, Mr. Rao is a member of the bank’s Customer Service Committee. He served as a Director on the board of the Bank's sales subsidiary HBL for 6 years until its merger with HDB Financial Services Limited in 2016. Mr. Rao also dons the role of advisor to multiple network partners. He’s a member of the Global Advisory Board of Diners International and the APAC Client Council of Visa.
He has over 25 years of experience in the industry. Prior to joining HDFC Bank, Mr. Rao has held senior positions in IBM Global Services, Cadbury's, Unilever, and Pepsico. He has completed his B.Tech from Regional Engineering College (REC), Jamshedpur and business management from S.P. Jain Institute of Management, Mumbai.
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