Mumbai, August 4
Sashidhar Jagdishan, the ‘Strategic Change Agent’ at HDFC Bank, will succeed Aditya Puri because the Chief Executive Officer and Managing Director of the nation’s largest non-public sector lender from late October.
HDFC Bank on Tuesday mentioned the appointment of Jagdishan has been permitted by the RBI for 3 years ranging from October 27.
Puri has led the financial institution since its founding greater than 25 years in the past and the appointment of the 55-year-old Jagdishan ends some of the keenly watched successions within the Indian banking area.
Under Puri’s management, HDFC Bank has change into the most-valued Indian lender by traders with a market cap of over Rs 5.71 lakh crore, majorly resulting from its skill to maintain robust controls over dud property and delivering wholesome revenue growths, even because the banking system witnessed a spurt in unhealthy loans.
The RBI permitted Jagdishan’s identify — the primary selection for the financial institution Board — in response to a few names despatched to it late on Monday night, sources mentioned. — PTI