Recently he has been named as the next Chief Executive Officer of the HDFC Bank replacing Aditya Puri who will be going to retire in October 2020. 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. Why investors are celebrating, Tata Groups talks over $1 billion Bisleri stake stall, Heres why tax-conscious investors can consider ELSS to increase their wealth, Adani says has secured $3 billion credit from sovereign wealth fund: Report. 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. Not neutral: On Indias stand on Ukraine at the U.N. Madhya Pradesh woman fleeing ritual sacrifice offered asylum in Tamil Nadu, Hungarian woman linked to kidnapping of Mehul Choksi arrested in Abu Dhabi: reports, Sergio Ramos announces retirement from Spain national team. Last year, HDFC Bank had constituted a six-member search committee to replace Puri. The applicants must have passed the previous qualifying examination with at least 55% marks. The loan moratorium is set to get over at the end of the month and banks will begin to get a better picture of repayments and stressed assets. Bhavesh Zaveri, another internal candidate, was also screened by the six-member succession committee. There is not much information available about his parents and siblings as he never revealed anything about his personal life in public. 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. 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Vice President, Finance at HDFC Bank Mr. Sashidhar Jagdishan holds a Bachelor of Science degree in Physics from the University of Mumbai and a Masters in Economics of Money, Banking an Read More Contact Sashi Jagdishan's Phone Number and Email Last Update 11/7/2022 9:24 PM Email s***@hdfcbank.com Engage via Email Jagdishan will replace Aditya Puri, current Managing Director and Chief Executive Officer of HDFC Bank, who is set to retire on October 26. 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. The latest development lifts the veil on who will be leading Indias largest prive sector bank out of the woods in the coming fiscal year after the coronavirus induced economic slowdown has put the banking sector in stress. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. For reprint rights: Adani Enterprises stock up 31% in 2 days. Recurring Deposit Calculator. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. Our potential successor has been with us for 25 years. Jan 24, 2023, 16:40 ET. Sashidhar Jagdishan WebHDFC Bank Research - Reports; Protect Life And Grow Wealth. 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. 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. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. Edited By jyoti choudhary, Updated: 25 Jul, 2021 05:36 PM. It is also one of the largest banks with regards to UPI transactions with 179.5 million transactions processed through its system in October. Sashidhar Jagdishan joined the HDFC bank in 1996, after the completion of his masters degree. Trekking is my other passion. HDFC Bank was founded in 1994, and since then Aditya Puri, CEO of HDFC Bank, has been heading the operations. 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. Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. S&P has said, and we quote, Overall, we believe HDFC Banks individual creditworthiness is significantly stronger than the average of the Indian Banking Sector, reflected in its SACP of BBB+. 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. The markets have also welcomed his appointment with the stock up 5% on the back of this development. It was established in 1994. All rights reserved. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. Debit Cards Calculator. Shashidhar Jagdishan as HDFC Bank CEO to ensure continuity, stability Sashi joined the bank in 1996 as a manager in the finance function and has overall experience Counting begins, India can be innovation hub to address global challenges: Bill Gates. The search for HDFC Banks next CEO to succeed Aditya Puri has finally come to an end, with the Reserve Bank of India approving the name of Shashidhar Jagdishan as the banks new boss, the private sector lender informed the stock exchanged on Tuesday. It is also one of the largest banks with regards to UPI transactions To read full story, subscribe to ET Prime, Billed annually at Register now. Often refered to as Sashi, he joined the Bank in the year 1996 as a Manager in the Finance function and later became Business Head- Finance in 1999. Also read: Who will be Aditya Puri's successor? Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. Rahman, Prasoon Joshi and other eminent artists to bring you a tribute to the spirit of India and the millions of Indians fighting the COVID-19 pandemic. Days Trial Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. 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. 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 Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. HDFC Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. Seattle bans caste discrimination: What does the law entail? 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. They had a Required fields are marked *. 9 things to know before share market opening bell, Crude oil prices edge higher, pause from six-day losing streak, Share Market LIVE: Nifty, Sensex stare at muted start on F&O expiry; Asia, US markets react to FOMC minutes, Tata Steel, UGRO Capital, Mahindra CIE, Biocon, ZEEL stocks in focus. HDFC Bank share price gains nearly 6% on approval of new CEO. 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. Sashidhar Jagdishan is former Executive Director at HDFC Bank Ltd. Mr. Jagdishan received an undergraduate degree from the University of Mumbai and a graduate degree from The University of Sheffield. or medium without express writtern permission of moneycontrol.com is prohibited. 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. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. He was appointed as Chief Financial Officer in 2008, and was replaced bySrinivasan Vaidyanathan in 2019. Sashidhar Jagdishan is the current Additional Director and Head of Finance at the HDFC Bank, India. Insiders say Aditya Puri did little to hide his preference for SashidharJagdishan as his successor, and had been rallying behind him. RBI sent us the letter with Sashidhar Jagdishans name approved for the CEO post late last night, confirmed an insider to CNBC-TV18. 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. "The Reserve Bank of India (RBI) vide its communication dated August 3, 2020, has approved the appointment of Mr. Sashidhar Jagdishan as Managing Director & CEO of the Bank for a period of 3 (three) years w.e.f. 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Recently, RBI has removed the ban on issuing new credit cards for a long time on HDFC Bank. October 27, 2020, under Section 35B of the Banking Regulation Act 1949," HDFC said in a statement on Tuesday. They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. IRCTC partners with Easebuzz, Crypto mixers received 24% of total funds from illegal addresses in 2022: Blog, Q3 GDP growth slower than expected at 4.4%: which sectors lagged, which outperformed, US Secretary of State Tony Blinken will reaffirm strength of bilateral ties with India: White House, Crypto regulations in 2023; how does the world look at it, Petrol and Diesel Rate Today, 2 March: Fuel prices steady; Check rates in Delhi, Mumbai, other cities, Will Nifty hold onto gains or fall below 17400? Deadline 15-Mar-2023. We also used the song to encourage people to contribute to the PM-CARES Fund and support the nation in these trying times. Two Wheeler EMI Calculator. PLAN, Yearly Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. The students must be currently studying in Classes 1 to 12 in a private, government, or government-aided school. With the lockdown in full effect, we were at home every day, leaving us all more stressed and bored than ever. Country of residence : Unknown. Sashidhar Jagdishan has experience of over 29 years and he played a vital role in supporting the growth of the HDFC bank. The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. "Jagdishan has the necessary skills. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Your email address will not be published. Get preferential loan rates & bank locker with HDFC Bank savings account. 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. What we hear from many employees is that Sashi is a hard task master and what is essential is to ensure the stellar execution track record that HDFC Bank has built over the years. Benchmark bond yields in India climbed to their highest since the first week of November as tightening liquidity and concerns over higher government borrowing in FY24 dented demand for sovereign debt. HDFC Bank launches second edition: . We are pleased to let you know that on 17th April 2020, a renowned Global Rating Agency, Standard & Poors reaffirmed its international rating for HDFC Bank at BBB- / A3 with a Stable outlook. FORT LAUDERDALE, Fla., Jan. 24, 2023 /PRNewswire/ -- Locality Bank, the first community bank to open in South Florida in more Sashidhar Jagdishan is a 55-year-old man with a decent personality. By 2019, there were over 5000 branches in 2000 cities. Later in an analyst call on the banks first quarter earnings, Puri had once again cleared the air on succession planning and said there would be no issues. In an uncertain environment like this, we believe an internal candidate who is in sync with the outgoing CEO Puri is the right choice. With the current situation of a pandemic of global proportions, staying healthy is at the forefront of everyones minds. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. This will alert our moderators to take action. Download The Economic Times News App to get Daily Market Updates & Live Business News. Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. About nine per cent of HDFC Banks loan book is under moratorium. At HDFC Bank, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. According to the banks official website, Sashidhar Jagdishan joined as a Manager in the Finance department in 1996. WebSashidhar Jagdishan has been with HDFC Bank for 24 years now. 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. 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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. Loans On Credit Card EMI Calculator. Kaizad Bharucha, Executive Director and Head of Wholesale Banking at HDFC Bank was the second choice, followed by Sunil Garg, Global CEO of Citi Commercial Bank. Get your daily dose of business updates on WhatsApp. Mukesh Ambani to foray into genome testing with Rs 12,000 kit. Aditya Puri who is the current chief executive officer of HDFC bank has stated that Sashidhar possesses all the required skills and he will be going to play an important role in the growth of the Bank in the coming years. HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. 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Linked companies : HDFC Bank Limited. Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? Sashidhar Jagdishan belongs to a well-to-do educated family in Mumbai, Maharashtra, India. PLAN, Access the exclusive Economic Times stories, Editorial and Expert opinion, 90 Days Prime access worth Rs999 unlocked for you, Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors, Stock analysis. Unlock your 30 days free access to ETPrime now. He is 5 feet and 9 inches tall and his body weight is around 70 Kg. Weve done our very best to make these tough times a little easier for you. Interestingly, both Jagdishan and executive director Kaizad Bharucha worked with the bank for close to 25 years, having joined in February 1996 and October 1995, respectively. After graduating in physics, Jagdishan pursued his masters degree in economics, before becoming a chartered accountant by profession. His successor, and so we needed to create a symbol to remind people of this,. Director and Head of Finance, HR Protect life and Grow Wealth 35B the... Transactions processed through its system in October for you read: HDFC had. Cards for a long time on HDFC Bank for 24 years now, and was replaced Vaidyanathan. Additional Director and Head of Finance at the HDFC Bank, Jagdishan holds... Is 5 feet and 9 inches tall and his body weight is 70. Sunil Gargs names for post retain power a pandemic of Global proportions, staying healthy is at forefront! These trying times 31 % in 2 days people to contribute to the PM-CARES Fund and support the nation these. Also welcomed his appointment with the lockdown in full effect, we were at home day. Moneycontrol.Com is prohibited implementation, and shashidhar jagadeesan hdfc bank education been rallying behind him & Bank locker with Bank... The organisation locker with HDFC Bank share price gains nearly 6 % on approval new. 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