I had purchased pulsar vehicle in the year 2009 it is hypothecated with HDFC Bank, i have clear all the EMI. But i did not change owner in RC.  If i not changed owner name, is there any problem. 

Yes you will be in problem, you will have to get deleted the hypothication, otherwise you can sell the bike to any other person (Regn. authority will not enter purchaser's  name in RC without deletion of Hypothication)

Without getting the ownership name changed how can you claim to be the owner of the byke. Secondly, for any insurance claim ownership is required. Even ownership change in your can prove that EMI are fully repaid. 

Without getting the ownership name changed how can you claim to be the owner of the byke. Secondly, for any insurance claim ownership is required. Even ownership change in your favour can prove that EMI are fully repaid. 

Keeping entry of hypothecation may create lots of problems. The entry is a blot on your absolute ownership. your ownership right gets tainted.