New Delhi28 minutes ago
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Shashidhar Jagadishan (file photo)
The Reserve Bank of India (RBI) has approved the reappointment of Shashidhar Jagadeesan as the MD and CEO of HDFC Bank. Shashidhar’s tenure ends on 26 October 2023, which has been extended for the next 3 years i.e. till 26 October 2026.
RBI has approved the reappointment of Shashidhar Jagadeesan on September 18. On October 26, 2020, Shashidhar Jagadeesan took over as MD-CEO of the company in place of Aditya Puri. Recently, RBI had also approved the reappointment of MD-CEO of ICICI Bank Sandeep Bakshi.
Jagadishan was associated with HDFC in 1996.
Jagadishan, a Chartered Accountant (CA) by profession, has graduated in Physics. Additionally, he holds a Masters in Economics degree in Money, Banking and Finance from the University of Sheffield, UK. Jagadishan has more than 31 years of experience in banking.
He was associated with HDFC in 1996. In 1999, he was made business head and in 2008, he was appointed chief financial officer of the company. The market cap of the bank was Rs 440 crore in 1995, which will increase to Rs 12.34 trillion in 2023.
Shashidhar played an important role in the growth of the bank.
HDFC said that Shashidhar has played an important role in the growth journey of the bank. Jagadishan also played an important role in the merger of HDFC Housing, the housing finance company of HDFC Group. HDFC Housing was merged with HDFC Bank in July this year.
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