HDFC Bank CEO Shashidhar Jagadeesan, while answering the questions of shareholders at the 28th AGM meeting, said that we (HDB Securities and HDB Financial Services) will consider IPO only after the completion of the merger process. JLP offers the best standardized test-prep and customized K-12 tutoring throughout Miami-Dade and His tenure will be started from October 2020 and he will serve at the post for the next three years. Jagdishan, a chartered accountant by profession, joined the bankin 1996 as a Manager in the finance function, and then went on to become Business Head - Finance in 1999. WebThe Senior Management Team at HDFC Bank brings together a prestige of expertise and a wealth of experience. 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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Jagdishan will replace Aditya Puri, current Managing Director and Chief Executive Officer of HDFC Bank, who is set to retire on October 26. 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. With the current situation of a pandemic of global proportions, staying healthy is at the forefront of everyones minds. Air India to recruit 900 pilots, 4,200 cabin crew trainees this year, Know how to integrate ChatGPT with WhatsApp, Stocks that will see action on February 24, 2022, IOC plays cupid and matchmaker at workplace, Indiabulls Housing Finances board and management working on simplification of companys structure: Gagan Banga. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. 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Mukesh Ambani to foray into genome testing with Rs 12,000 kit. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. About nine per cent of HDFC Banks loan book is under moratorium. The main successors, irrespective of where the RBI finger points, have been with me, they understand the business, they have been part of the transformation, they were part of the trainingthere is no issue on who is the successor, he had said. 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. 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. WebHDFC bank is a branch of HDFC. He didnt have any tattoo painted on his body. 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. Invest as low as 10,000 and earn better returns than FD, Find safe & high-yielding bonds for your buck. Driven by an experienced board and visionary managing director, Debit Cards Calculator. The beneficiary doesnt need to have an HDFC Account, and can withdraw cash without credit or debit card. 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. The lender has reportedly received the approval from the central bank last night. We adhered to social distancing norms and also provided people with sanitizers before and after operating the ATM machine. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. Experienced in leading large teams to deliver mandated results with in the timelines by managing proper Quality . Copyright e-Eighteen.com Ltd. All rights reserved. Sashi, as Sashidhar Jagdishan is popularly called, has emerged as the clear front-runner, with Puri dropping several hints about his role in bringing about the digital transformation in the bank to give it an edge above its peers. He is 5 feet and 9 inches tall and his body weight is around 70 Kg. Car Loan BT Top-Up Calculator. It is now for RBI to decide, he said. 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. "I will play my favourite game, golf. 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. 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. At HDFC Bank, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR. 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. Even with a lockdown in place, people still need money and often leave home to get it. 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. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. Dont miss out on ET Prime stories! It is also one of the largest banks with regards to UPI transactions 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. Lenders led by the State Bank of India (SBI) that are conducting an annual review of Adani Enterprises Ltd (AEL) have decided to maintain status quo on credit limits sanctioned for Gautam Adanis flagship company, said two people aware of the development. 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. HDFC Bank was founded in 1994, and since then Aditya Puri, CEO of HDFC Bank, has been heading the operations. 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. This facility operated between 10 a.m. and 5 p.m. using sanitized ATM Vans. Get live Share Market updates and latest India News and business news on Financial Express. Fixed Deposit 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 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 Country of residence : Unknown. Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. Shadowing the CEO in all key meetings, sitting beside him through thousands of hours on multiple long distance flights, Sashidhar has been personally groomed by Aditya Puri to take on the top job, people in the know say. He has an average body build up with an average physique. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. 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. It was established in 1994. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. Register now. My successor was always in place, at least in my mind. Sanzone said his group completed a $29.15 million private capital raise for Evermore Bank. Market Research. Age : 57. WebSashidhar Jagdishan. Counting begins, India can be innovation hub to address global challenges: Bill Gates. 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. 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. HDFC Bank had in April this year recommended Shashidhar Jagdishan, Kaizad Bharucha and Sunil Gargs names for post. 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. 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. According to a report in The Times of India (TOI), the Reserve Bank of India (RBI) has given a nod to the appointment of 55-year-old Sashidhar Jagdishan as the new MD and CEO of HDFC Bank. RBI sent us the letter with Sashidhar Jagdishans name approved for the CEO post late last night, confirmed an insider to CNBC-TV18. 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. 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. The Reserve Bank Sandeep Bakhshi, MD and CEO of ICICI Bank is Indias 2nd highest paid banker and this is his salary, 7 highest-paid CEOs in the world: This is why their net worth amounts in crores, The 5 richest Indian women of 2020, their net worth and how they make their crores, The 15 wealthiest Indians who have a massive net worth, Elon Musk loses a massive personal fortune worth Rs 16 lakh 27 thousand Cr. 10,000, LeapToUnicorn - mentoring, networking and fundraising for startups. He also holds the distinction of being the longest-running CEO of any bank in India. HDFC 2020-21 . click here! Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? Edited By jyoti choudhary, Updated: 25 Jul, 2021 05:36 PM. Save my name, email, and website in this browser for the next time I comment. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. The Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. HDFC Bank's board has given Egon Zehnder a set of attributes to look for in Puri's potential successors. 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. 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. We partnered with A.R. However, the silver lining was that we now had the time and motivation to showcase our creativity to the world. 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. WebHowever, for this one will have to wait till the merger of HDFC Bank and HDFC. Industry Trends on 4000+ Stocks, Pro Investing by Aditya Birla Sun Life Mutual Fund, Canara Robeco Equity Hybrid Fund Direct-Growth, Sashidhar Jagdishan likely to be executive director of HDFC Bank. Jagdishan is currently Group Head and Change Agent, HDFC Bank. 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. He has black color hair and also has sparkling black color eyes. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? In the face of this global health crisis, people could only step outside for essentials, resulting in crowds forming outside essential stores, thereby increasing the chances of infection. Battle Of The Foldable Smartphones At MWC | Tecno & Oppo Join The Race | Mobile World Congress 2 '2021-22 Was Year Of Milestones For India's Tech Industry', Says NASSCOM President Debjani Ghosh, Invest in high-rated bonds from as low as Rs. It is also one of the largest banks with regards to UPI transactions with 179.5 million transactions processed through its system in October. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. The banks Managing Director and CEO Shashidhar Jagadeesan said that the bank is working on a plan to double its network of branches in the next three to five years which will be another HDFC Bank ( HDFC Bank) is equal to adding. The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. Deadline 15-Mar-2023. Puri's successor Jagdishan was among the top two internal candidates for the top job at HDFC Bank. After a 25-year-long illustrious career, Aditya Puri, 69, will retire but he is ready for the second innings. Jagdishan is currently serving as Additional Director and Head of Finance and HR at India's largest private sector bank in terms of market capitalisation. Gold Loan EMI Calculator. 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). Unlock your 30 days free access to ETPrime now. 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. Required fields are marked *. The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. 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. Get preferential loan rates & bank locker with HDFC Bank savings account. Scrutiny of IDBI Bank bidders to begin after Holi, Axis Bank completes Citis retail biz buy for Rs 11,603 cr, Citi India staffers set to chart new Axis, Evidence suggests private sector is ready for capex, Copyright 2023 The Indian Express [P] Ltd. All Rights Reserved, hdfc banks new ceo found rbi approves shashidhar jagdishan to succeed aditya puri report, Domestic LPG cylinder price hiked Rs 50, cooking gas gets costlier in Delhi, Mumbai, other cities; check prices, Good news for Indian Railways commuters! 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