RBI approves appointment of Sashidhar Jagdishan as HDFC Bank’s new MD & CEO

Sashidhar Jagdishan

The Reserve Bank of India has given its final nod to Sashidhar Jagdishan as Managing Director & Chief Executive Officer of HDFC Bank. The tenure of the appointment is for 3 years beginning October 27, 2020 and is subject to clearance from the Bank’s board and shareholders.

Sashidhar Jagdishan

Aditya Puri, the Managing Director and a veteran in the banking industry, who led the bank since inception retires on October 26, 2020.

“Sashi brings to the table a rare combination of IQ and EQ. Given his understanding of the business, coupled with a strong people connect, we’re confident that he’ll take the bank to the next level. My best wishes are always with him,” said Shyamala Gopinath, Chairperson, HDFC Bank Limited.

“I congratulate Sashi on his appointment.  He understands the Bank’s ethos, culture which has made it what it is. Given our inherent strengths and now Sashi’s leadership, I believe that the best of the Bank is yet to come,” said Aditya Puri, Managing Director, HDFC Bank Limited.

Also Read: HDFC Bank slashes MCLR by 5 bps

“I’m humbled by this. I fully recognise that Mr Puri’s are huge shoes to fill. But I’m confident that with the support of my colleagues, the board, other stakeholders, and indeed God’s grace, I’ll be able to live up to the faith that Mr Puri, the Board, and the regulator have reposed in me. I’ll leave no stone unturned to carry forward the rich legacy,” said Jagdishan.

Jagdishan holds an overall experience of 30 years, 24 of which he’s spent in HDFC Bank. Prior to HDFC Bank, he did a three year stint with Deutsche Bank, AG, Mumbai.

He is a Science Graduate (Physics) from Mumbai University, and a qualified Chartered Accountant. He also holds a Master’s degree in Economics of Money, Banking & Finance from the University of Sheffield, UK.

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