The Reserve Bank of India has approved reappointment HDFC Bank managing director and CEO Sashidhar Jagdishan for a period of three years, the country’s largest private sector lender said in a stock exchange filing.

“The RBI vide its communication dated September 18, 2023, has approved the re-appointment of Mr. Sashidhar Jagdishan (DIN: 08614396) as the Managing Director and Chief Executive Officer of the Bank for a period of 3 (three) years w.e.f. October 27, 2023 to October 26, 2026,” HDFC Bank said in a regulatory filing.

Jagdishan succeeded Aditya Puri, who led the bank since inception and retired on October 26, 2020. 

Jagdishan joined HDFC Bank in 1996 and has played a critical role in its growth ever since. Starting as a manager in the finance department, he’s grown from strength to strength wearing different hats. In 1999, he became Business Head – Finance and in 2008, the Chief Financial Officer of the bank. He has led the finance function and played a pivotal role in aligning the organisation to achieve its strategic objectives over the years.

Under his leadership, mortgage lender HDFC was merged HDFC Bank.

Jagdishan has an overall experience of over thirty-one (31) years and has completed his graduation in science with specialisation in physics. He is a chartered accountant by profession and holds a master’s degree in economics of Money, Banking and Finance from the University of Sheffield, United Kingdom.

HDFC Bank shares ended 1.98 per cent lower at Rs 1,629 on Monday.