SEC FORM 3

SEC FORM 3SEC 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^*

AGARWAL AJAY GIRIDHARILAL

(Last)

(First)

(Middle)

HDFC BANK LIMITED, BANK HOUSE

SENAPATI BAPAT MARG, LOWER PAREL

(Street)

MUMBAI

INDIA

400013

(City)

(State)

(Zip)

INDIA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/30/2026

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

3a. Foreign Trading Symbol
[HDFCBANK]

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

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

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

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	327,234	D
Equity Shares	10,840	I	Spouse
Equity Shares	20,000	I	Son

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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Employee Stock Option (Right to Buy)	09/18/2026	09/18/2030	Equity Shares	11,600	$10.63⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/18/2027	09/18/2031	Equity Shares	15,400	$10.63⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/18/2028	09/18/2032	Equity Shares	19,300	$10.63⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/18/2029	09/18/2033	Equity Shares	30,710	$10.63⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/04/2022	09/04/2027	Equity Shares	274,000	$5.92⁽¹⁾	D
Employee Stock Option (Right to Buy)	05/02/2023	05/02/2028	Equity Shares	2,716	$7.3⁽¹⁾	D
Employee Stock Option (Right to Buy)	05/02/2024	05/02/2029	Equity Shares	2,714	$7.3⁽¹⁾	D
Employee Stock Option (Right to Buy)	10/29/2025	10/29/2029	Equity Shares	13,400	$9.54⁽¹⁾	D
Employee Stock Option (Right to Buy)	10/29/2026	10/29/2030	Equity Shares	13,400	$9.54⁽¹⁾	D
Employee Stock Option (Right to Buy)	10/29/2027	10/29/2031	Equity Shares	13,400	$9.54⁽¹⁾	D
Employee Stock Option (Right to Buy)	10/29/2028	10/29/2032	Equity Shares	13,120	$9.54⁽¹⁾	D
Employee Stock Option (Right to Buy)	10/25/2024	10/25/2028	Equity Shares	32,600	$8.28⁽¹⁾	D
Employee Stock Option (Right to Buy)	10/25/2025	10/25/2029	Equity Shares	32,600	$8.28⁽¹⁾	D
Employee Stock Option (Right to Buy)	10/25/2026	10/25/2030	Equity Shares	33,620	$8.28⁽¹⁾	D

Explanation of Responses:

1. Conversion rate as on March 30, 2026 applied: 1 INR= 0.011 USD

Remarks:

Exhibit 24 - Power of Attorney Officer Title - Group Head- Group Oversight and Secretarial The equity shares of the Bank are listed on BSE (code is 500180) and NSE (code is HDFCBANK) This Form 3 is being filed late due to an administrative delay in obtaining the reporting person EDGAR filing credentials. With respect to the untimely filing of this Form 3, the reporting person intends to rely on the no action relief available to directors and officers of foreign private issuers pursuant to Question 6 of the Holding Foreign Insiders Accountable Act FAQ(added on March 12, 2026).

	/s/ Dhanjit Thaivalappil, Attorney in fact for Agarwal Ajay Giridharilal	03/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

SEC Form 3 filed by new insider Agarwal Ajay Giridharilal