HDFC Bank announced on September 19 2023 that the Reserve Bank of India (RBI) has approved the reappointment of Sashidhar Jagdishan as the Managing Director(MD) and Chief Executive Officer(CEO) of the Bank.
Sashidhar Jagdishan has been re-appointed for a period of three years with effect from October 27 2023, to October 26 2026.
Under the Banking Regulation Act 1949 ,it is mandatory for the banks to get the approval of RBI for the appointments of top post in the banks regulated by RBI.
The RBI had earlier approved the appointment of Jagdishan as CEO of HDFC Bank for a period of 3 years with effect from October 27, 2020. Jaddishan took the place of Aditya Puri.
Jagdishan joined the Bank in 1996 as a manager in the finance department and became the business head of finance in 1999. He was later appointed as chief financial officer in 2008.
HDFC Bank was set up by the Housing Development Finance Corporation Limited or HDFC Ltd in 1994.
It commenced its banking operation in 1995.
On July 1 2023, HDFC Limited merged with HDFC Bank.
HDFC Bank is India's largest private sector bank and second largest commercial Bank after State Bank of India.
The Bank’s international presence includes branches in 4 countries and 3 representative offices in Dubai, London and Singapore.
Chairman of the Bank : Atanu Chakraborty
Tagline of the Bank: We Understand Your World