Here we take a look at five frontline contenders. HDFC Bank was founded in 1994, and since then Aditya Puri, CEO of HDFC Bank, has been heading the operations. MUMBAI: Sashidhar Jagdishan, chief financial officer of HDFC Bank, is tipped to be elevated as executive director after deputy managing director Paresh Invest as low as 10,000 and earn better returns than FD, Find safe & high-yielding bonds for your buck. "I will play my favourite game, golf. Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. 12 were here. Weve done our very best to make these tough times a little easier for you. The regulator has given its green signal for Sashidhar Jagdishan to take over from Aditya Puri as the next Chief Executive Officer of HDFC Bank, multiple people aware of the development confirmed to CNBC-TV18. 8 things to know before stock market opens, Tata Steel, Bajaj Finserv, Adani Ports, Mindspace REIT, Rail Vikas Nigam, Hero MotoCorp stocks in focus, Explainer: Maiden Pharma & Drug regulation, G20 Foreign Ministers Meet: Jaishankar meets and greets foreign delegates; See Photos, Greeces deadliest train collision in decades See Photos, Rare winter blizzard wraps California in snow blanket; braces for more See Photos, HOUSING DEVELOPMENT FINANCE CORP SHARE PRICE, Uttarakhand Elections 2022: Opinion poll predicts Congress edge over BJP, Harish Rawat popular CM face, F&O weekly expiry: Go for Bear Put Spread for Nifty bulls; Bank Nifty support at 38000; check trading guide, Nifty may head to 17850 if it remains below 18000; watch Tata Motors, SBI, others for stock-specific action, Joe Biden says nation weary from Covid, but US in a better place, Disney names Rebecca Campbell as international content group lead, Global Investment Summit: Investors mean a lot to us and we already have their trust, says Andhra CM YS Jagan Mohan Reddy, Blinkit plans to give Urban Company a run for its money, Nexus closes $700-mn fund to back startups in India, US, Indias tech industry set to reach $245 billion in FY23, Broadband India Forum proposes govt-industry revenue sharing from digital infra use, IT staff should be back in offices: Rishad Premji, Banks can absorb expected credit loss regime impact: India Ratings, India can be innovation hub for world: Bill Gates, Live: Stage set for Tripura, Meghalaya, Nagaland election results today, US, Russia harden stands ahead of G20 foreign ministers meeting today, Russias TMH bids lowest for making 200 Vande Bharat trains in India, Covid of 'natural origin' or 'lab leak'? This ensures continuity and stability. He has played a critical role in supporting the growth trajectory of the bank, it further said. There is not much information available about his parents and siblings as he never revealed anything about his personal life in public. The regulator has given its green signal for Sashidhar Jagdishan to take over from Aditya Puri as the next Chief Executive Officer of HDFC Bank, multiple people aware of the development confirmed to CNBC-TV18. He has black color hair and also has sparkling black color eyes. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. We partnered with A.R. Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. "I'm happy to say that our own HDFC Securities also has a plan and you will see that countering the threats from discount brokerages with its own neo architecture or discount kind of an architecture as well," Jagdishan told the bank's shareholders at its annual general meeting on Saturday. The With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate He is no stranger to the bank and has been with it for nearly 25 years, starting out as a Manager in the finance function. As a result, he completed his masters degree in Economics of Money, Banking, and Finance. Currently, Sashidhar Jagdishan is serving as the Group Head and Change Agent of HDFC Bank and his role includes heading the functions of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. HDFC CEO (Shashidhar Jagadeesan) , . We used our logo, the HDFC BankGrid, to mark six-foot intervals outside essential stores, branches and ATMs, where crowds tend to gather, to remind the masses to maintain a safe distance from each other by simply standing within the four corners of the logo. The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. As a Bank we are certainly sorry for what has happened and have taken this as an opportunity to improve and redouble our efforts to fix this problem for good, HDFC Bank's managing director and CEO, Shashidhar Jagdishan said. 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. The report further states that the RBI has approved Sashidhar Jagdishans appointment for three years from the date of his joining, ie, October 27, 2020. 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. Driven by an experienced board and visionary managing director, Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. To adhere to social distancing norms, we promoted cardless withdrawals and transfers that were easy, convenient, hassle-free and best of all required no contact. Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. Music will become the filler, he adds. 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. It was established in 1994. About nine per cent of HDFC Banks loan book is under moratorium. My successor was always there, at least in my mind. It is also one of the largest banks with regards to UPI transactions The lender has reportedly received the approval from the central bank last night. Sashidhar Jagdishans marital status is married. Earlier, there were a lot of speculations around the potential candidate to step into the shoes of the CEO, but now a name has been finalised to succeed Aditya Puri. 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The regulator has given its green signal for Sashidhar Jagdishan to take over from Aditya Puri as the next Chief Executive Officer of HDFC Bank, multiple people aware of the development 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. Kaizad Barucha, who has the highest board experience, was the senior-most candidate in the fray. Seattle bans caste discrimination: What does the law entail? Linked companies : HDFC Bank Limited. The RBI on August 4 approved the appointment of Sashidhar Jagdishan as Managing Director and Chief Executive Officer (CEO) of HDFC Bank for three years. "Jagdishan has the necessary skills. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. Our aim was to keep you engaged and give you a #BreakFromBoredom so that you could stay home, stay safe and be creative. 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 Forbes India, before joining HDFC Bank, Sashidhar Jagdishan was working with Deutsche Bank in Mumbai, as a senior officer in the Country Financial Control Division. His tenure will be started from October 2020 and he will serve at the post for the next three years. Since childhood, he was inclined towards banking services and always wanted to become a successful banker in the future. For reprint rights: Syndications Today, Sashidhar Jagdishan appointed new HDFC Bank CEO; RBI gives go ahead, Known as the the dark horse, Jagdishan joined HDFC Bank in 1996 and rose through the ranks to become Head of Finance and HR at the company, Posted by: Manoj Sharma, Aug 04, 2020, 10:11 AM IST, Who will be Aditya Puri's successor? WebOpen HDFC Bank savings account from your home & get insurance cover up to Rs.1.18 Cr*. WebHDFC Bank Research - Reports; Protect Life And Grow Wealth. 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. WebThe Reserve Bank of India (RBI) on August 4 cleared the name of Sashidhar Jagdishan as the next chief executive officer of HDFC Bank, according to a senior RBI executive who FORT LAUDERDALE, Fla., Jan. 24, 2023 /PRNewswire/ -- Locality Bank, the first community bank to open in South Florida in more A-A+; # Shashidhar Jagadeesan # Salary # ICICI Bank; Related Story . Discover the right bonds meeting your investment amount & investment horizon, Fundamental, Stock Ideas, Multibaggers & Insights, Stock & Index F&O Trading Calls & Market Analysis, Commodity Trading Calls & Market Analysis, Currency Derivatives Trading Calls & Insights, Options Trading Advice and Market Analysis, Model portfolios, Investment Ideas, Guru Screens and Much More, Proprietary system driven Rule Based Trading calls, Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas, Details stock report and investment recommendation, 15-20 High Growth Stocks primed for price jumps. He follows the Hindu religion and holds an Indian nationality. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. 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. HDFC Bank had in April this year recommended Shashidhar Jagdishan, Kaizad Bharucha and Sunil Gargs names for post. Get live Share Market updates and latest India News and business news on Financial Express. The six-member search committee comprised of Chairman of the bank Shyamala Gopinath, board members Sanjiv Sachar, MD Ranganath, Sandeep Parekh, Srikanth Nadhamuni, and Renu Karnad from HDFC Ltd, with Puri himself acting as an advisor. Get your daily dose of business updates on WhatsApp. Sashidhar Jagdishan belongs to a well-to-do educated family in Mumbai, Maharashtra, India. This will alert our moderators to take action. Last year, HDFC Bank had constituted a six-member search committee to replace Puri. 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. Counting begins, India can be innovation hub to address global challenges: Bill Gates. WebSashi Jagdishan is Managing Director/CEO at Hdfc Bank Ltd. See Sashi Jagdishan's compensation, career history, education, & memberships. WebCar Loan EMI Calculator. For reprint rights: Continue reading with one of these options: Login to get access to some exclusive stories, Get access to exclusive stories, expert opinions &, Valid only with UPI, Credit & Debit Cards Autopay, Inciting hatred against a certain community, 15 A lot depends on Chinas recovery, Choose your reason below and click on the Report button. Tripura Election Result 2023 Live Updates: BJP again or can Congress-Left spring a surprise? 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. 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Credited with scripting the banks success story, Puri has grown the banks balance sheet by a consistent 20 percent-plus annual growth rate to Rs 1,545,103 crore now through the economic upturns and downturns. We are doing our best so that you can stay home and stay safe, and to do so, we had to bring the things you needed to your doorstep. It had however, noted that the continued slowdown in economic activity has led to a decrease in retail loan origination, sale of third party products, use of credit and debit cards by customers, efficiency in collection efforts and waivers of certain fees. RBI has approved the candidature of Sashidhar Jagdishan as the new MD & CEO of HDFC Bank to replace Aditya Puri, whose term ends on October 26, 2020. 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