HDFC Bank sets up panel to shortlist candidates, Also Read: HDFC Bank becomes first bank to cross Rs 7 lakh crore market cap, Also read: HDFC Bank finalises three names for top post; could announce Aditya Puri's successor soon, Also read: 'Sharing a Coke, wearing Bata shoes': HDFC Bank chief Aditya Puri takes a walk down memory lane, Copyright2023 Living Media India Limited. The outgoing Aditya Puri nurtured the private sector bank from the rudimentary stage as he aimed to create a world-class Indian Bank. Can Northeast elections alter the battle for Delhi in 2024? Sashidhar Jagdishan has experience of over 29 years and he played a vital role in supporting the growth of the HDFC bank. The lender has reportedly received the approval from the central bank last night. Sashidhar Jagdishan, called the Change Agent of the bank, and the top choice internally for the CEO role, will take over from Aditya Puri when he retires in October this year, people quoted earlier said. You could make payments using just the mobile number of a beneficiary. They had a Meanwhile, the HDFC Bank stock has risen 4.71 per cent or 47.45 to 1,049.65 compared to the previous day close of 1,002 on the National Stock Exchange. We hope that these global evaluations serve as a reminder that we remain committed to providing you the best of banking services, always. He also leads the finance function and played an important role in aligning the organization in achieving the strategic objectives over the years. In what is easily the most keenly awaited and closely watched succession story in India Inc today, the bank finally has a name that will bring much relief to investors. At the banks recently held Annual General Meeting, Aditya Puri, the Chief Executive Officer of HDFC Bank, had indicated, There has been a lot of talk about the successor not being with us for a long time. With less than three months for HDFC Banks Managing Director and CEO Aditya Puri to retire, his successor, Sashidhar Jagdishan, will have adequate time to The markets have also welcomed his appointment with the stock up 5% on the back of this development. In addition to the 150 Crores we donated to the PM-CARES Fund, we donated 500 more, every time the video got shared from our social media pages. The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. Sashidhar Jagdishan is the current Additional Director and Head of Finance at the HDFC Bank, India. Dont miss out on ET Prime stories! click here! Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. Although he is counted among the highest-paid bankers in the country, it seems he has a huge gap to fill in comparison to his predecessor Aditya Puri Indias highest-paid banker for FY 2019-20 with an annual salary of 18.92 crore. Days Trial Get preferential loan rates & bank locker with HDFC Bank savings account. Shashidhar Jagdishan, with over 29 years of experience, is currently the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. Here we take a look at five frontline contenders. Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. WebSashidhar Jagdishan has been with HDFC Bank for 24 years now. Air India to recruit 900 pilots, 4,200 cabin crew trainees this year, Know how to integrate ChatGPT with WhatsApp, Stocks that will see action on February 24, 2022, IOC plays cupid and matchmaker at workplace, Indiabulls Housing Finances board and management working on simplification of companys structure: Gagan Banga. Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. Your email address will not be published. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. After a 25-year-long illustrious career, Aditya Puri, 69, will retire but he is ready for the second innings. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. With less than three months for HDFC Banks Managing Director and CEO Aditya Puri to retire, his successor, Sashidhar Jagdishan, will have adequate time to transition into his new role. Linked companies : HDFC Bank Limited. Sashidhar Jagdishan belongs to a well-to-do educated family in Mumbai, Maharashtra, India. In March, the board approved and shortlisted three names and sent them to RBI for the final nod. WebCar Loan EMI Calculator. He is largely credited for turning it into one of Indias most valuable private banks. Recently, RBI has removed the ban on issuing new credit cards for a long time on HDFC Bank. MD & CEO, HDFC Bank Limited. Mr. Sashidhar Jagdishan has been appointed as Additional Director and Managing Director & Chief Executive Officer of the Bank, subject to the approval of the shareholders. He succeeds Mr Aditya Puri, the iconic Managing Director who led the bank since inception and retired on October 26, 2020. Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? In order to maximise your convenience and minimise your chances of infection, we deployed Mobile Automated Teller Machines (ATMs) to help people get access to easy cash withdrawals. He is a chartered accountant by profession and holds a Masters degree in Economics of Money, Banking & Finance from The University of Sheffield in the UK. In October 2020, the longest-serving CEO of a private bank in India, will step down from his position and pave way for someone new to take charge of the responsibilities. Aditya Puri has led HDFC Bank since its inception in 1994, and will retire in October when he reaches the maximum age limit of 70 years for private bank chiefs. Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. CNBC-TV18 is awaiting HDFC Banks response to this story. Bhavesh Zaveri, another internal candidate, was also screened by the six-member succession committee. Even with a lockdown in place, people still need money and often leave home to get it. We do this when you refresh/move back on the browser on any NetBanking page. Loans On Credit Card EMI Calculator. To read full story, subscribe to ET Prime, Billed annually at WebKnown Addresses for Bar Education, Inc. 1900 W Commercial Blvd Fort Lauderdale, FL 33309 6350 N Andrews Ave Fort Lauderdale, FL 33309 16120 US Highway 19 N HDFC CEO (Shashidhar Jagadeesan) , . Heres what to do in your income tax returns, All you need to know about your dormant & inactive savings account, LV Prabhakar appointed as MD of Canara Bank, Copyright 2023 The Indian Express [P] Ltd. All Rights Reserved, shashidhar jagdishan as hdfc bank ceo to ensure continuity stability, MPC minutes show RBI not wavering from inflation target, How to prevent five common fintech security mistakes, Top 5 best-selling Royal Enfield motorcycles in January 2023, Meta verified: What Musk has to say about Zuckerberg copying Twitters blue tick plan, Stocks struggle to make headway as rate rises loom, Zomato junks Instant; launches Everyday for home-styled food, Nifty, Bank Nifty outlook: Indices to remain volatile on monthly F&O expiry; check support, resistance, PM Modi chairs PRAGATI meet, reviews 9 key infra projects worth over Rs 41,500 cr! Since then, he has played a pivotal role in supporting the banks growth trajectory and helping the organisation achieve its strategic objectives over the years. Jagdishan has worked closely with Puri since he joined the bank in the 1996. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. 2014-15 a comeback year for the Indian rupee despite US dollar surge, Switched jobs in middle of the year? For reprint rights: Adani Enterprises stock up 31% in 2 days. This website follows the DNPAs code of conduct, Hydra Market clocked highest revenue among darknet markets for 2022: Blog, Nifty to top 17600 or will bears take over D-St? 2-Year Market Research. Car Loan BT Top-Up Calculator. Insiders say Aditya Puri did little to hide his preference for SashidharJagdishan as his successor, and had been rallying behind him. Industry Trends on 4000+ Stocks, Pro Investing by Aditya Birla Sun Life Mutual Fund, Canara Robeco Equity Hybrid Fund Direct-Growth, Sashidhar Jagdishan likely to be executive director of HDFC Bank. He has played a critical role in supporting the growth trajectory of the bank, it further said. Tripura Election Result 2023 Live Updates: BJP again or can Congress-Left spring a surprise? He also joined the bank around 1996 as a Manager in the Finance function, and then went on to became Business Head - Finance in 1999 and Chief Financial Officer in the year 2008. According to the plan, the bank will open 1,500 to 2,000 branches every year. He has led the finance function and played a pivotal role in aligning the organisation in achieving the strategic objectives over the years," the bank's website said. Secure Children's Future; Deposits; National Pension System; Gold Monetisation Scheme; BORROW Loans, EMI. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. MUMBAI: Sashidhar Jagdishan, chief financial officer of HDFC Bank, is tipped to be elevated as executive director after deputy managing director Paresh Aditya Puri who has been associated with the private sector lender since it started operations back in 1994 is set to retire in October this year. Last month, at the banks annual general meeting, Puri, who retires on October 26, had said that the banks new MD would likely be an internal candidate with a long career at the lender. It had reported a robust 19.6 per cent growth in its net profit for the first quarter of the fiscal. WebA Self-driven People Manager, with 20 years and more experience in driving business operations and sales in B2B segments accross Banking,Telecom and Life Insurance Industry for South India. It is now for RBI to decide, he said. CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. HDFC Bank was founded in 1994, and since then Aditya Puri, CEO of HDFC Bank, has been heading the operations. Puri too was a Charted Accountant by profession who studied commerce from Panjab University. Your email address will not be published. Having almost 3 decades of experience in the banking industry,Sashidhar Jagdishan is Charted Accountant by profession who also holds a Masters degree in Economics of Money, Banking & Finance. HDFC Ltd Chairman Deepak Parekh will step aside, after having led India's mortgage-lending pioneer for more than four decades, once the proposed merger between the home-financier and HDFC Bank is consummated. 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