So, we bring you offers and discounts on medicines, e-consultations, check-ups and more from leading brands like 1MG, Apollo Pharmacy, IndusHealth Plus and Lybrate. 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. Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. He became business head finance in 1999 and was appointed as chief financial officer in 2008. Music will become the filler, he adds. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. The recent selloff mirrors the weak trend in global equities after a series of US economic data including Fridays consumer price inflation, which is the Federal Reserves most preferred inflation gauge compounded fears the Federal Reserve will keep policy rates elevated for longer than the market had priced in. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. "I will play my favourite game, golf. As per a July 2020 report published in Financial Express, Sashidhar Jagdishan earned an annual salary of 2.91 crore in FY 2019-20. Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. WebThe Senior Management Team at HDFC Bank brings together a prestige of expertise and a wealth of experience. Save my name, email, and website in this browser for the next time I comment. Deadline 15-Mar-2023. 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. 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 "Jagdishan has the necessary skills. Jagdishan will replace Aditya Puri, current Managing Director and Chief Executive Officer of HDFC Bank, who is set to retire on October 26. 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. It is now for RBI to decide, he said. 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. Jagdishan has worked closely with Puri since he joined the bank in the 1996. 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. So, we brought youTheArtProject, an online platform for people of all age groups to show the world how they see the world through the canvas of Arts, Crafts and Photography. This will alert our moderators to take action. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. Last year, HDFC Bank had constituted a six-member search committee to replace Puri. Seattle bans caste discrimination: What does the law entail? According to the plan, the bank will open 1,500 to 2,000 branches every year. There is no information available about his wife and children. Recurring Deposit Calculator. 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. 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 Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. 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'? Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. 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. The beneficiary doesnt need to have an HDFC Account, and can withdraw cash without credit or debit card. The soon to-be-head of HDFC Bank was appointed as Chief Financial Officer in the year 2008. 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. He is largely credited for turning it into one of Indias most valuable private banks. CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. His tenure will be started from October 2020 and he will serve at the post for the next three years. 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. Get live Share Market updates and latest India News and business news on Financial Express. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. Kaizad Barucha, who has the highest board experience, was the senior-most candidate in the fray. Experienced in leading large teams to deliver mandated results with in the timelines by managing proper Quality . Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. 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. Here we take a look at five frontline contenders. Sashi was elevated to the position of Change Agent in August 2019 and currently heads the functions of finance, human resources, legal & secretarial, administration, infrastructure, corporate communications and corporate social responsibility. For security reasons, we have logged you out of HDFC Bank NetBanking. He follows the Hindu religion and holds an Indian nationality. WebHDFC Bank Parivartan's ECS Scholarship in School Programme (Merit-cum-Need Based) 2022-23. 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. 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 It had reported a robust 19.6 per cent growth in its net profit for the first quarter of the fiscal. 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. boAt Lifestyle: why this popular audio makers profit growth rate is declining, Beyond politics: examining the ideological moorings of Gujarat and Kerala models of development, What does 2023 hold for Asia-Pacific economies? Two Wheeler EMI Calculator. WebSashidhar Jagdishan has been with HDFC Bank for 24 years now. 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. Now Sashidhar Jagdishan will be looking ahead as he will be the next chief executive officer of the HDFC bank as the Reserve Bank of India approved his appointment at this post on 4 August 2020. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Debit Cards Calculator. Sashidhar Jagdishan has experience of over 29 years and he played a vital role in supporting the growth of the HDFC bank. 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. 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. 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. Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. 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. What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? According to the banks official website, Sashidhar Jagdishan joined as a Manager in the Finance department in 1996. To revisit this article, visit My Profile, then View saved stories. Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More, Sarah Michelle Gellar Age, Net Worth, Husband, Family and Biography (Updated 2023), Grace Van Dien Age, Net Worth, Boyfriend, Family and Biography (Updated 2023), Offset Age, Net Worth, Wife, Family and Biography (Updated 2023), Regina Ting Chen Age, Net Worth, Husband, Family and Biography (Updated 2023), Mae Martin Age, Net Worth, Boyfriend, Family and Biography (Updated 2023). 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. 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. RBI sent us the letter with Sashidhar Jagdishans name approved for the CEO post late last night, confirmed an insider to CNBC-TV18. Aditya Puri hangs up his much-decorated boots this October, bringing the curtains down on a long, glittering stint that saw him become the longest-serving CEO of any private bank in India. Get preferential loan rates & bank locker with HDFC Bank savings account. 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