The Reserve Bank of India (RBI) cleared the appointment of Aditya Puri as managing director of HDFC Bank for another two years.
“In its letter dated on October 22, 2018, RBI has accorded its agreement to HDFC Bank Ltd. for re-appointment of Aditya Puri, as MD & CEO of the bank, from a tenure starting from November 1, 2018 to October 26, 2020 (i.e. till the date of his attaining age of 70 years),” said the bank in a filing to stock exchanges.
The lender added that the shareholders had already given their final nod to his appointment in 2015 for a period of five years subject to RBI approval.
Puri has been associated with the bank since 1994. He is the longest-serving head of any private bank in the country.
During his tenure, Puri had led the lender through two major amalgamations in the Indian banking industry i.e the merger of Times Bank Limited and Centurion Bank of Punjab Limited with HDFC Bank.