"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. According to the plan, the bank will open 1,500 to 2,000 branches every year. 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. Secure Children's Future; Deposits; National Pension System; Gold Monetisation Scheme; BORROW Loans, EMI. Weve done our very best to make these tough times a little easier for you. 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. This ensures continuity and stability. At HDFC Bank, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR. Fixed Deposit Calculator. Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. Dont miss out on ET Prime stories! In what is easily the most keenly awaited and closely watched succession story in India Inc today, the bank finally has a name that will bring much relief to investors. Their first office was founded in Maharashtra, India. Deadline 15-Mar-2023. 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. 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. 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. WebSashi Jagdishan is Managing Director/CEO at Hdfc Bank Ltd. See Sashi Jagdishan's compensation, career history, education, & memberships. Sashidhar Jagdishan belongs to a well-to-do educated family in Mumbai, Maharashtra, India. On December 3, in an unprecedented move the bank was barred from issuing new credit cards and launching any new digital products after multiple issues linked to digital banking, cards and payments on the bank's platform in the last two years. Locality Bank. With the lockdown in full effect, we were at home every day, leaving us all more stressed and bored than ever. 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. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. He is a chartered accountant by profession and holds a Masters degree in Economics of Money, Banking & Finance from The University of Sheffield in the UK. The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank. What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? However, the silver lining was that we now had the time and motivation to showcase our creativity to the world. I prefer to walk through the woods," he says. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. 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. A tale of two theories, This website follows the DNPAs code of conduct. He has black color hair and also has sparkling black color eyes. Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. 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 Get live Share Market updates and latest India News and business news on Financial Express. According to his profile on the banks website, he heads the functions of Finance, Human Resources, Legal and Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. It is also one of the largest banks with regards to UPI transactions Two Wheeler EMI Calculator. 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. 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. There is no information available about his wife and children. 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. 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. In the current scenario, you risk infection every time you step outside. 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). 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. In October 2020, the longest-serving CEO of a private bank in India, will step down from his position and pave way for someone new to take charge of the responsibilities. The Reserve Bank of India (RBI) has approved the name ofSashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. 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It had reported a robust 19.6 per cent growth in its net profit for the first quarter of the fiscal. 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. Mukesh Ambani to foray into genome testing with Rs 12,000 kit. Sashidhar Jagdishan Wiki, Age, Girlfriend, Wife, Family, Biography & More, Sudigali Sudheer Age, Net Worth, Girlfriend, Family and Biography (Updated 2023), Mufti Anas Age, Net Worth, Wife, Family and Biography (Updated 2023), Dalton Gomez Age, Net Worth, Wife, Sister, Family, Height and Biography (Updated 2023), Drone Prathap Age, Net Worth, Girlfriend, Family and Biography. The applicants must have passed the previous qualifying examination with at least 55% marks. Copyright e-Eighteen.com Ltd. All rights reserved. Eligibility. HDFC Bank's board has given Egon Zehnder a set of attributes to look for in Puri's potential successors. Car Loan BT Top-Up Calculator. We also used the song to encourage people to contribute to the PM-CARES Fund and support the nation in these trying times. Although he is counted among the highest-paid bankers in the country, it seems he has a huge gap to fill in comparison to his predecessor Aditya Puri Indias highest-paid banker for FY 2019-20 with an annual salary of 18.92 crore. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. My successor was always in place, at least in my mind. For reprint rights: Adani Enterprises stock up 31% in 2 days. 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. Biography of Sashidhar Jagdishan. The students must be currently studying in Classes 1 to 12 in a private, government, or government-aided school. WebCar Loan EMI Calculator. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. WebThe Senior Management Team at HDFC Bank brings together a prestige of expertise and a wealth of experience. Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. 2-Year We partnered with A.R. Meanwhile, the HDFC Bank stock has risen 4.71 per cent or 47.45 to 1,049.65 compared to the previous day close of 1,002 on the National Stock Exchange. HDFC Bank launches second edition: . 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. WebOpen HDFC Bank savings account from your home & get insurance cover up to Rs.1.18 Cr*. Tripura Election Result 2023 Live Updates: BJP again or can Congress-Left spring a surprise? "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. Reproduction of news articles, photos, videos or any other content in whole or in part in any form "He has played a critical role in supporting the growth trajectory of the bank. He has played a critical role in supporting the growth trajectory of the bank, it further said. For security reasons, we have logged you out of HDFC Bank NetBanking. Sashidhar Jagdishan joined the HDFC bank in 1996, after the completion of his masters degree. The soon to-be-head of HDFC Bank was appointed as Chief Financial Officer in the year 2008. My successor was always there, at least in my mind. Your Reason has been Reported to the admin. PLAN, Yearly 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! Sashidhar Jagdishan Having almost 3 decades of experience in the banking industry,Sashidhar Jagdishan is Charted Accountant by profession who also holds a Masters degree in Economics of Money, Banking & Finance. 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. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. WebHDFC Bank Research - Reports; Protect Life And Grow Wealth. 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 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. He is 5 feet and 9 inches tall and his body weight is around 70 Kg. Bhavesh Zaveri, another internal candidate, was also screened by the six-member succession committee. PLAN. Sashidhar Jagdishan is a 55-year-old man with a decent personality. Download The Economic Times News App to get Daily Market Updates & Live Business News. Jan 24, 2023, 16:40 ET. This facility operated between 10 a.m. and 5 p.m. using sanitized ATM Vans. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. 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. Trekking is my other passion. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. Our doorstep banking ensures a safe and convenient banking experience right at your doorstep. Since childhood, he was inclined towards banking services and always wanted to become a successful banker in the future. Invest as low as 10,000 and earn better returns than FD, Find safe & high-yielding bonds for your buck. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. +Includes DocuBay and TimesPrime Membership. 15 At the banks recently held Annual General Meeting, Aditya Puri, the Chief Executive Officer of HDFC Bank, had indicated, There has been a lot of talk about the successor not being with us for a long time. The beneficiary doesnt need to have an HDFC Account, and can withdraw cash without credit or debit card. Always invest lots of time & energy in developing 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 Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. With the current situation of a pandemic of global proportions, staying healthy is at the forefront of everyones minds. 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. 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. Jagdishan has worked closely with Puri since he joined the bank in the 1996. He was appointed as Chief Financial Officer in 2008, and was replaced bySrinivasan Vaidyanathan in 2019. 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? 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. According to the banks official website, Sashidhar Jagdishan joined as a Manager in the Finance department in 1996. Sashidhar Jagdishan, the current chief executive of HDFC Bank, would continue to lead the merged entity. 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. 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. 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. They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. Loans On Credit Card EMI Calculator. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. 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. 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. 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. All rights reserved. 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. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. Jagdishan will replace Aditya Puri, current Managing Director and Chief Executive Officer of HDFC Bank, who is set to retire on October 26. Sashidhar Jagdishans marital status is married. Save my name, email, and website in this browser for the next time I comment. Edited By jyoti choudhary, Updated: 25 Jul, 2021 05:36 PM. Days Trial. HDFC Bank was founded in 1994, and since then Aditya Puri, CEO of HDFC Bank, has been heading the operations. Driven by an experienced board and visionary managing director, 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. 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. 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. The markets have also welcomed his appointment with the stock up 5% on the back of this development. Download Financial Express App for latest business news. Can Northeast elections alter the battle for Delhi in 2024? They had a 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. About nine per cent of HDFC Banks loan book is under moratorium. Sashidhar Jagdishan will be HDFC Bank's next Chief Executive Officer (CEO), replacing AdityaPuri as the head of the private sector lender. 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. 2499 1749, Monthly 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. 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. All Rights Reserved, shashidhar jagdishan as hdfc bank ceo to ensure continuity stability, MPC minutes show RBI not wavering from inflation target, How to prevent five common fintech security mistakes, Top 5 best-selling Royal Enfield motorcycles in January 2023, Meta verified: What Musk has to say about Zuckerberg copying Twitters blue tick plan, Stocks struggle to make headway as rate rises loom, Zomato junks Instant; launches Everyday for home-styled food, Nifty, Bank Nifty outlook: Indices to remain volatile on monthly F&O expiry; check support, resistance, PM Modi chairs PRAGATI meet, reviews 9 key infra projects worth over Rs 41,500 cr! As Chief Financial Officer in the current Chief executive of HDFC Bank savings account from your home get! Banking ensures a safe and convenient banking experience right at your doorstep Updated: 25 Jul, 05:36. Stock up 31 % in 2 days '' he added Bank share price gains nearly %... 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