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 ^*

Zaveri Bhavesh

(Last)

(First)

(Middle)

HDFC BANK LIMITED, HDFC BANK HOUSE

SENAPATI BAPAT MARG, LOWER PAREL WEST

(Street)

MUMBAI

400013

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

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

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

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)
Equtiy Shares	292,808	D
Equtiy Shares	1,273,360	I	Spouse

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)	10/24/2024	10/24/2026	Equity Shares	110,000	6.8 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	11/25/2024	11/25/2026	Equity Shares	43,200	8.34 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	11/25/2025	11/25/2027	Equity Shares	42,800	8.34 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/26/2023	09/26/2027	Equity Shares	44,800	7.85 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/26/2024	09/26/2028	Equity Shares	44,800	7.85 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/26/2025	09/26/2029	Equity Shares	44,800	7.85 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/26/2026	09/26/2030	Equity Shares	44,600	7.85 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/13/2024	09/13/2028	Equity Shares	44,800	9 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/13/2025	09/13/2029	Equity Shares	44,800	9 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/13/2026	09/13/2030	Equity Shares	44,800	9 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	09/13/2027	09/13/2031	Equity Shares	44,980	9 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	01/30/2026	01/30/2030	Equity Shares	39,400	9.23 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	01/30/2027	01/30/2031	Equity Shares	39,400	9.23 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	01/30/2028	01/30/2032	Equity Shares	39,400	9.23 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	01/30/2029	01/30/2033	Equity Shares	39,004	9.23 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	02/03/2027	02/03/2031	Equity Shares	34,600	10.21 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	02/03/2028	02/03/2032	Equity Shares	34,600	10.21 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	02/03/2029	02/03/2033	Equity Shares	34,600	10.21 ⁽¹⁾	D
Employee Stock Option (Right to Buy)	02/03/2030	02/03/2034	Equity Shares	34,742	10.21 ⁽¹⁾	D

Explanation of Responses:

1. Conversion rate as on March 17, 2026 applied : 1Rs = 0.011 USD

Remarks:

Exhibit 24- Power of Attorney
Executive Director
The equity shares of the Bank are also listed on BSE (Security code is 500180)

	/s/ Dhanjit Thaivalappil, Attorney in fact for Zaveri Bhavesh	03/18/2026
	** 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 4 (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.

ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

EX-24