About nine per cent of HDFC Banks loan book is under moratorium. 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. Initially, he served as a Manager in the finance function and then promoted at the post of Business Head Finance in 1999. Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. Recently, RBI has removed the ban on issuing new credit cards for a long time on HDFC Bank. "He has played a critical role in supporting the growth trajectory of the bank. Country of residence : Unknown. Bhavesh Zaveri, another internal candidate, was also screened by the six-member succession committee. 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. 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. 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He became business head finance in 1999 and was appointed as chief financial officer in 2008. Eligibility. Reproduction of news articles, photos, videos or any other content in whole or in part in any form 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. Register now. "A meeting of the board of directors of the bank will be convened in due course inter-alia to approve the appointment of Jagdishan as the MD & CEO," the bank said. Last month, HDFC Bank had submitted a detailed plan of action to the RBI to address repeated service disruption issues due to outage, saying it was hopeful of improving its technology platform in three months. 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. his date of taking charge, i.e. He has an average body build up with an average physique. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. Download Financial Express App for latest business news. 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. WebSashi Jagdishan is Managing Director/CEO at Hdfc Bank Ltd. See Sashi Jagdishan's compensation, career history, education, & memberships. click here! Download The Economic Times News App to get Daily Market Updates & Live Business News. 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 WebHDFC Bank Research - Reports; Protect Life And Grow Wealth. Your Reason has been Reported to the admin. By 2019, there were over 5000 branches in 2000 cities. Locality Bank. 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? Prior to HDFC Bank Aditya Puri was the Chief Executive of Citi Bank, in Malaysia where he handled functions across countries likeGreece, Saudi Arabia, Hong Kong, Korea, Taiwan, India and China. 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. +Includes DocuBay and TimesPrime Membership. RBI sent us the letter with Sashidhar Jagdishans name approved for the CEO post late last night, confirmed an insider to CNBC-TV18. 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. 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. They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. 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. or medium without express writtern permission of moneycontrol.com is prohibited. CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. He also holds the distinction of being the longest-running CEO of any bank in India. Unlock your 30 days free access to ETPrime now. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. There is no information available about his wife and children. 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. He has black color hair and also has sparkling black color eyes. 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. After a 25-year-long illustrious career, Aditya Puri, 69, will retire but he is ready for the second innings. 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. 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. Mukesh Ambani to foray into genome testing with Rs 12,000 kit. Sashi joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years. To revisit this article, visit My Profile, then View saved stories. He also leads the finance function and played an important role in aligning the organization in achieving the strategic objectives over the years. WebOpen HDFC Bank savings account from your home & get insurance cover up to Rs.1.18 Cr*. He is 5 feet and 9 inches tall and his body weight is around 70 Kg. With the current situation of a pandemic of global proportions, staying healthy is at the forefront of everyones minds. Recurring Deposit Calculator. 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. Fixed Deposit Calculator. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. Jagdishan has worked closely with Puri since he joined the bank in the 1996. HDFC Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. 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. Your email address will not be published. Sashidhar Jagdishan joined the HDFC bank in 1996, after the completion of his masters degree. 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. SIP Calculator. Here we take a look at five frontline contenders. Our aim was to keep you engaged and give you a #BreakFromBoredom so that you could stay home, stay safe and be creative. Presenting Hum Haar Nahi Maanenge, a song that served as a clarion call to spread hope, positivity & motivation and also served as a reminder that we are in this together and will get through this together. HDFC Bank's board has given Egon Zehnder a set of attributes to look for in Puri's potential successors. 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. 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. WebHDFC bank is a branch of HDFC. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. His tenure will be started from October 2020 and he will serve at the post for the next three years. Their first office was founded in Maharashtra, India. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. Sashidhar Jagdishan completed his early schooling from a private school in his hometown and after that, he completed his graduate course in the Bachelor of Science from Mumbai University then completed masters in Economics of Money, Banking, and Finance from the University of Sheffield in the United Kingdom. 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. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. 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 HDFC Bank had in April this year recommended Shashidhar Jagdishan, Kaizad Bharucha and Sunil Gargs names for post. At HDFC Bank, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR. Secure Children's Future; Deposits; National Pension System; Gold Monetisation Scheme; BORROW Loans, EMI. WebHDFC Bank Parivartan's ECS Scholarship in School Programme (Merit-cum-Need Based) 2022-23. 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