RBI nod for Sashidhar Jagdishan as Puri's successor at HDFC Bank

August 04, 2020 11:13

Aditya Puri, HDFC MD

The Reserve Bank has confirmed the name of Sashidhar Jagdishan to succeed Aditya Puri as the chief executive and managing director of HDFC Bank, two sources said on Tuesday. Jagdishan, currently working as the 'change agent' of the largest private sector lender and head of finance, has been with the bank since 1996, and the appointment will put an end to one of the most keenly watched successions in the banking industry. Puri is widely credited with building the bank from scratch and leading it for the last 25 years to be the second largest by assets and also the most valued lender by investors. Puri retires on October 20.

The Reserve Bank of India (RBI), which was given a list of candidates in an order of priority, conveyed its approval to Jagdishan's name late last evening, the sources said. The bank will eventually inform the exchanges about the RBI nod.

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