Sashi, as Sashidhar Jagdishan is popularly called, has emerged as the clear front-runner, with Puri dropping several hints about his role in bringing about the digital transformation in the bank to give it an edge above its peers. A-A+; # Shashidhar Jagadeesan # Salary # ICICI Bank; Related Story . Save my name, email, and website in this browser for the next time I comment. According to the plan, the bank will open 1,500 to 2,000 branches every year. Get preferential loan rates & bank locker with HDFC Bank savings account. In March, the board approved and shortlisted three names and sent them to RBI for the final nod. Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. Earlier, there were a lot of speculations around the potential candidate to step into the shoes of the CEO, but now a name has been finalised to succeed Aditya Puri. A tale of two theories, This website follows the DNPAs code of conduct. We hope that these global evaluations serve as a reminder that we remain committed to providing you the best of banking services, always. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. 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. Kaizad Barucha, who has the highest board experience, was the senior-most candidate in the fray. Recently he has been named as the next Chief Executive Officer of the HDFC Bank replacing Aditya Puri who will be going to retire in October 2020. 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. 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. It was established in 1994. Jagdishan is currently Group Head and Change Agent, HDFC Bank. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. PLAN. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. Loans On Credit Card EMI Calculator. So, we bring you offers and discounts on medicines, e-consultations, check-ups and more from leading brands like 1MG, Apollo Pharmacy, IndusHealth Plus and Lybrate. 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. 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. HDFC Bank launches second edition: . Download Financial Express App for latest business news. Sashidhar Jagdishan, the current chief executive of HDFC Bank, would continue to lead the merged entity. Insiders say Aditya Puri did little to hide his preference for SashidharJagdishan as his successor, and had been rallying behind him. Includes DocuBay and TimesPrime Membership. +Includes DocuBay and TimesPrime Membership. PLAN, Yearly Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. The lender has reportedly received the approval from the central bank last night. Seattle bans caste discrimination: What does the law entail? Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. 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. Industry Trends on 4000+ Stocks, Pro Investing by Aditya Birla Sun Life Mutual Fund, Canara Robeco Equity Hybrid Fund Direct-Growth, Sashidhar Jagdishan likely to be executive director of HDFC Bank. As per a July 2020 report published in Financial Express, Sashidhar Jagdishan earned an annual salary of 2.91 crore in FY 2019-20. 10,000, LeapToUnicorn - mentoring, networking and fundraising for startups. He is 5 feet and 9 inches tall and his body weight is around 70 Kg. Get live Share Market updates and latest India News and business news on Financial Express. 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. Since then, he has played a pivotal role in supporting the banks growth trajectory and helping the organisation achieve its strategic objectives over the years. Sashidhar Jagdishan Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. It has nearly 300 shareholders and 90% of them are local. 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! 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. The Reserve Bank of India (RBI) has approved the name ofSashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. WebCar Loan EMI Calculator. The outgoing Aditya Puri nurtured the private sector bank from the rudimentary stage as he aimed to create a world-class Indian Bank. Copyright 2023, THG PUBLISHING PVT LTD. or its affiliated companies. 12 were here. 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. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. We also used the song to encourage people to contribute to the PM-CARES Fund and support the nation in these trying times. The latest development lifts the veil on who will be leading Indias largest prive sector bank out of the woods in the coming fiscal year after the coronavirus induced economic slowdown has put the banking sector in stress. 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. WebThe Reserve Bank of India (RBI) on August 4 cleared the name of Sashidhar Jagdishan as the next chief executive officer of HDFC Bank, according to a senior RBI executive who 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. This facility operated between 10 a.m. and 5 p.m. using sanitized ATM Vans. 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. 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 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. Sashidhar Jagdishan is a 55-year-old man with a decent personality. 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. 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. Puri too was a Charted Accountant by profession who studied commerce from Panjab University. Download The Economic Times News App to get Daily Market Updates & Live Business News. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Mukesh Ambani to foray into genome testing with Rs 12,000 kit. 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. 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. Your email address will not be published. Our potential successor has been with us for 25 years. HDFC Bank's board has given Egon Zehnder a set of attributes to look for in Puri's potential successors. 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. 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 Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. Jagdishan has worked closely with Puri since he joined the bank in the 1996. 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. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? 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. FORT LAUDERDALE, Fla., Jan. 24, 2023 /PRNewswire/ -- Locality Bank, the first community bank to open in South Florida in more Edited By jyoti choudhary, Updated: 25 Jul, 2021 05:36 PM. Required fields are marked *. About nine per cent of HDFC Banks loan book is under moratorium. The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. 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. 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. 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. 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. Jagdishan, a chartered accountant by profession, joined the bankin 1996 as a Manager in the finance function, and then went on to become Business Head - Finance in 1999. I prefer to walk through the woods," he says. Your Reason has been Reported to the admin. HDFC Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. WebHowever, for this one will have to wait till the merger of HDFC Bank and HDFC. Even with a lockdown in place, people still need money and often leave home to get it. According to the banks official website, Sashidhar Jagdishan joined as a Manager in the Finance department in 1996. He was appointed as Chief Financial Officer in 2008, and was replaced bySrinivasan Vaidyanathan in 2019. It is also one of the largest banks with regards to UPI transactions Sashidhar Jagdishan will be HDFC Bank's next Chief Executive Officer (CEO), replacing AdityaPuri as the head of the private sector lender. It is now for RBI to decide, he said. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? {{NavBarAdvancedController.userName.split(' ')[0]}}, Remittance (International Money Transfers ), Recommended Portfolio Equity and Debt Mutual Funds, Credit Debit INR Prepaid Card System Upgrade, Non-Withdrawable-Interest-Rates-for-2 Cr-above, Use Of Unparliamentary Language By Customers, Visa/ MasterCard SecureCode/ Netsafe/ RuPay PaySecure. Sashidhar Jagdishans peers at other companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan Eisenberg, Stephen Collins. 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. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. Sashidhar Jagdishans marital status is married. For security reasons, we have logged you out of HDFC Bank NetBanking. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. Car Loan BT Top-Up Calculator. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. Puri's successor Jagdishan was among the top two internal candidates for the top job at HDFC Bank. For reprint rights: Adani Enterprises stock up 31% in 2 days. Initially, he served as a Manager in the finance function and then promoted at the post of Business Head Finance in 1999. Recently, RBI has removed the ban on issuing new credit cards for a long time on HDFC Bank. Also read:What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? We partnered with A.R. WebHDFC Bank Parivartan's ECS Scholarship in School Programme (Merit-cum-Need Based) 2022-23. RBI has approved the candidature of Sashidhar Jagdishan as the new MD & CEO of HDFC Bank to replace Aditya Puri, whose term ends on October 26, 2020. The soon to-be-head of HDFC Bank was appointed as Chief Financial Officer in the year 2008. 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. They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. Their first office was founded in Maharashtra, India. He became business head finance in 1999 and was appointed as chief financial officer in 2008. Two Wheeler EMI Calculator. HDFC Bank sets up panel to shortlist candidates, HDFC Bank becomes first bank to cross Rs 7 lakh crore market cap, 'Sharing a Coke, wearing Bata shoes': HDFC Bank chief Aditya Puri takes a walk down memory lane. He has black color hair and also has sparkling black color eyes. Sashi joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years. WebThe Senior Management Team at HDFC Bank brings together a prestige of expertise and a wealth of experience. S&P has said, and we quote, Overall, we believe HDFC Banks individual creditworthiness is significantly stronger than the average of the Indian Banking Sector, reflected in its SACP of BBB+. click here! Reproduction of news articles, photos, videos or any other content in whole or in part in any form
He also leads the finance function and played an important role in aligning the organization in achieving the strategic objectives over the years. By 2019, there were over 5000 branches in 2000 cities. He follows the Hindu religion and holds an Indian nationality. WebSashidhar Jagdishan has been with HDFC Bank for 24 years now. Our doorstep banking ensures a safe and convenient banking experience right at your doorstep. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. The applicants must have passed the previous qualifying examination with at least 55% marks. Register now. 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. 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. What is the debate around it? 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. Days Trial 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. Dont miss out on ET Prime stories! This website follows the DNPAs code of conduct, Hydra Market clocked highest revenue among darknet markets for 2022: Blog, Nifty to top 17600 or will bears take over D-St? Tripura Election Result 2023 Live Updates: BJP again or can Congress-Left spring a surprise? He has played a critical role in supporting the growth trajectory of the bank, it further said. In the current scenario, you risk infection every time you step outside. 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? HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. Can Northeast elections alter the battle for Delhi in 2024? Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank. 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. Copyright e-Eighteen.com Ltd. All rights reserved. To read full story, subscribe to ET Prime, Billed annually at WebHDFC Bank Research - Reports; Protect Life And Grow Wealth. After a 25-year-long illustrious career, Aditya Puri, 69, will retire but he is ready for the second innings. Sashidhar Jagdishan joined the HDFC bank in 1996, after the completion of his masters degree. 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. Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice. Unlock your 30 days free access to ETPrime now. "He has played a critical role in supporting the growth trajectory of the bank. We do this when you refresh/move back on the browser on any NetBanking page. Get live Share Market updates and latest India News and business news on Financial Express. What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? Currently, Sashidhar Jagdishan is serving as the Group Head and Change Agent of HDFC Bank and his role includes heading the functions of Finance, Human Recurring Deposit Calculator. Eligibility. Biography of Sashidhar Jagdishan. Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. CNBC-TV18 is awaiting HDFC Banks response to this story. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. 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. Linked companies : HDFC Bank Limited. Aditya Puri hangs up his much-decorated boots this October, bringing the curtains down on a long, glittering stint that saw him become the longest-serving CEO of any private bank in India. Last night much more to read full story, subscribe to ET Prime Billed. 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