Winning Bizness Sports Desk
Mumbai. There is big news coming from the banking sector. HDFC Bank MD CEO Shashidhar Jagadishan will continue in his post. Banking sector regulator Reserve Bank of India has approved his re-appointment to the post of MD-CEO for the next three years. Shashidhar Jagadishan will remain the MD-CEO of the bank from October 27, 2023 to October 26, 2026. Shashidhar Jagadishan's tenure was ending on 26 October 2023. HDFC Bank has given this information to the stock exchanges in regulatory filing. The bank said that following the recommendation of the board of HDFC Bank, approval was sought from RBI for Shashidhar Jagadishan to continue as MD-CEO of the bank. RBI informed the bank on September 18, 2023 that it has approved the reappointment of Shashidhar Jagadeesan as MD-CEO for the next three years.
Bank's board meeting to be held soon
HDFC Bank said that soon a meeting of the bank's board will be called in which approval will be taken from the board regarding the appointment of its MD-CEO. Shashidhar Jagadishan has been associated with HDFC Bank since 1996. In 1999, he was made Business Head-Finance and in 2008 he became the CFO of the bank. On October 26, 2020, Shashidhar Jagadishan replaced Aditya Puri, who had led the bank as MD since its inception.
Shashidhar imp role
Shashidhar Jagadishan has played an important role in the merger of HDFC, the group's housing finance company, with HDFC Bank. HDFC formally merged with HDFC Bank from July 1, 2023. According to the annual report of HDFC Bank, Shashidhar Jagadeesan's annual package in 2022-23 was Rs 10.5 crore, while his annual package in 2021-22 was Rs 6.51 crore. Recently, RBI had also approved the re-appointment of ICICI Bank MD-CEO Sandeep Bakshi to the post of MD-CEO and now the MD-CEO of HDFC Bank, the country's largest private bank, has also got an extension.
