RBI extends tenure of HDFC Bank's CEO Sashidhar Jagdishan to 2026

The Reserve Bank of India (RBI) has approved the extension of Sashidhar Jagdishan's term as Managing Director and Chief Executive Officer (CEO) of HDFC Bank, the country's largest private sector lender, for an additional three years. This decision, conveyed on Sunday, extends Jagdishan's leadership until October 26, 2026.

Jagdishan assumed the role of CEO in 2020, succeeding Aditya Puri, the bank's founder CEO. His journey within HDFC Bank has been marked by dedication and commitment, having joined the bank as a manager in the finance function and rising through the ranks to become Business Head of Finance by 1999. Prior to his appointment as CEO, he held the position of Group Head while overseeing crucial functions such as finance, human resources, legal and secretarial, administration, infrastructure, corporate communications, and corporate social responsibility.

This approval comes following the merger of HDFC Ltd with HDFC Bank on July 1, 2023. The merger valued at $40 billion established HDFC Bank as the second-largest bank in India, only behind the State Bank of India. The merger led to the dissolution of HDFC Ltd and resulted in HDFC Bank becoming 100% publicly owned. Shareholders of HDFC now own 41% of the bank with each shareholder receiving 42 shares of HDFC Bank for every 25 shares they previously held.

Jagdishan envisions a promising future for HDFC Bank following the merger. He has set ambitious objectives for the bank's growth, aiming to double its size every four years. In a message directed to over 4,000 employees who joined the bank from HDFC on July 1st, Jagdishan emphasized opportunities within the financial services and mortgage sectors, which he believes are currently underexplored. With a robust distribution network, a growing customer base, ample capital, strong asset quality, and profitability, the combined entity of HDFC Bank is well-positioned to capitalize on this growth.

The bank has stated that the board will convene soon to formalize Jagdishan's tenure extension.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Back to top

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201)

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

www.onefinancialmarkets.com is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015

Saudi Money Expo

Broker of the Year
Online Trading – Middle East

IAIR Awards

Best Forex
Customer Service 2018

JFEX Awards

We accept the following payment methods: