Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. 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. 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. 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. WebSashi Jagdishan is Managing Director/CEO at Hdfc Bank Ltd. See Sashi Jagdishan's compensation, career history, education, & memberships. This facility operated between 10 a.m. and 5 p.m. using sanitized ATM Vans. By 2019, there were over 5000 branches in 2000 cities. For security reasons, we have logged you out of HDFC Bank NetBanking. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. The lender has reportedly received the approval from the central bank last night. Recurring Deposit Calculator. Jagdishan has worked closely with Puri since he joined the bank in the 1996. It had however, noted that the continued slowdown in economic activity has led to a decrease in retail loan origination, sale of third party products, use of credit and debit cards by customers, efficiency in collection efforts and waivers of certain fees. Get your daily dose of business updates on WhatsApp. "I'm happy to say that our own HDFC Securities also has a plan and you will see that countering the threats from discount brokerages with its own neo architecture or discount kind of an architecture as well," Jagdishan told the bank's shareholders at its annual general meeting on Saturday. 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. 12 were here. Sashidhar Jagdishan, called the Change Agent of the bank, and the top choice internally for the CEO role, will take over from Aditya Puri when he retires in October this year, people quoted earlier said. Unlock your 30 days free access to ETPrime now. Interestingly, both Jagdishan and executive director Kaizad Bharucha worked with the bank for close to 25 years, having joined in February 1996 and October 1995, respectively. After graduating in physics, Jagdishan pursued his masters degree in economics, before becoming a chartered accountant by profession. 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. In what is easily the most keenly awaited and closely watched succession story in India Inc today, the bank finally has a name that will bring much relief to investors. CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. This ensures continuity and stability. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. 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 soon to-be-head of HDFC Bank was appointed as Chief Financial Officer in the year 2008. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. Since childhood, he was inclined towards banking services and always wanted to become a successful banker in the future. We used our logo, the HDFC BankGrid, to mark six-foot intervals outside essential stores, branches and ATMs, where crowds tend to gather, to remind the masses to maintain a safe distance from each other by simply standing within the four corners of the logo. Sashidhar Jagdishans peers at other companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan Eisenberg, Stephen Collins. Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. "He has played a critical role in supporting the growth trajectory of the bank. It is now for RBI to decide, he said. Your email address will not be published. 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. Two Wheeler EMI Calculator. Includes DocuBay and TimesPrime Membership. Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? "The Reserve Bank of India (RBI) vide its communication dated August 3, 2020, has approved the appointment of Mr. Sashidhar Jagdishan as Managing Director & CEO of the Bank for a period of 3 (three) years w.e.f. The Reserve Bank of India (RBI) has approved the name ofSashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. WebHDFC Bank Parivartan's ECS Scholarship in School Programme (Merit-cum-Need Based) 2022-23. "Jagdishan has the necessary skills. To read full story, subscribe to ET Prime, Billed annually at Experienced in leading large teams to deliver mandated results with in the timelines by managing proper Quality . Loans On Credit Card EMI Calculator. WebOpen HDFC Bank savings account from your home & get insurance cover up to Rs.1.18 Cr*. MD & CEO, HDFC Bank Limited. Mr. Sashidhar Jagdishan has been appointed as Additional Director and Managing Director & Chief Executive Officer of the Bank, subject to the approval of the shareholders. He succeeds Mr Aditya Puri, the iconic Managing Director who led the bank since inception and retired on October 26, 2020. Not neutral: On Indias stand on Ukraine at the U.N. Madhya Pradesh woman fleeing ritual sacrifice offered asylum in Tamil Nadu, Hungarian woman linked to kidnapping of Mehul Choksi arrested in Abu Dhabi: reports, Sergio Ramos announces retirement from Spain national team. Their first office was founded in Maharashtra, India. RBI sent us the letter with Sashidhar Jagdishans name approved for the CEO post late last night, confirmed an insider to CNBC-TV18. 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. 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. Kaizad Barucha, who has the highest board experience, was the senior-most candidate in the fray. Even with a lockdown in place, people still need money and often leave home to get it. He has an average body build up with an average physique. Your email address will not be published. Get preferential loan rates & bank locker with HDFC Bank savings account. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. My successor was always in place, at least in my mind. Seattle bans caste discrimination: What does the law entail? Always invest lots of time & energy in developing Initially, he served as a Manager in the finance function and then promoted at the post of Business Head Finance in 1999. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. 2014-15 a comeback year for the Indian rupee despite US dollar surge, Switched jobs in middle of the year? 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. Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. October 27, 2020, under Section 35B of the Banking Regulation Act 1949," HDFC said in a statement on Tuesday. Invest as low as 10,000 and earn better returns than FD, Find safe & high-yielding bonds for your buck. Market Research. 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. WebHowever, for this one will have to wait till the merger of HDFC Bank and HDFC. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. Often refered to as Sashi, he joined the Bank in the year 1996 as a Manager in the My successor was always there, at least in my mind. 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. Sashidhar Jagdishan, the current chief executive of HDFC Bank, would continue to lead the merged entity. Required fields are marked *. Linked companies : HDFC Bank Limited. Your Reason has been Reported to the admin. 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. He also leads the finance function and played an important role in aligning the organization in achieving the strategic objectives over the years. Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice. They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. In the face of this global health crisis, people could only step outside for essentials, resulting in crowds forming outside essential stores, thereby increasing the chances of infection. 9 things to know before share market opening bell, Crude oil prices edge higher, pause from six-day losing streak, Share Market LIVE: Nifty, Sensex stare at muted start on F&O expiry; Asia, US markets react to FOMC minutes, Tata Steel, UGRO Capital, Mahindra CIE, Biocon, ZEEL stocks in focus. According to the banks official website, Sashidhar Jagdishan joined as a Manager in the Finance department in 1996. He added that HDFC Securities will be responsible and exuded confidence that it will gain market share in the next 2-3 years. Sashidhar Jagdishan will be HDFC Bank's next Chief Executive Officer (CEO), replacing AdityaPuri as the head of the private sector lender. He became business head finance in 1999 and was appointed as chief financial officer in 2008. It was established in 1994. Fixed Deposit Calculator. We adhered to social distancing norms and also provided people with sanitizers before and after operating the ATM machine. 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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. MUMBAI: Sashidhar Jagdishan, chief financial officer of HDFC Bank, is tipped to be elevated as executive director after deputy managing director Paresh Can Northeast elections alter the battle for Delhi in 2024? 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 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. 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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 Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. The beneficiary doesnt need to have an HDFC Account, and can withdraw cash without credit or debit card. Here we take a look at five frontline contenders. In the current scenario, you risk infection every time you step outside. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. According to the plan, the bank will open 1,500 to 2,000 branches every year. Our doorstep banking ensures a safe and convenient banking experience right at your doorstep. 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. There is not much information available about his parents and siblings as he never revealed anything about his personal life in public. HDFC Bank share price gains nearly 6% on approval of new CEO. Sashidhar Jagdishans marital status is married. For reprint rights: Adani Enterprises stock up 31% in 2 days. Days Trial 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. "I will play my favourite game, golf. Also read: Who will be Aditya Puri's successor? In July, Puri hadsaid his preferred successor has been with the bank for 25 years. Sashidhar Jagdishan We are doing our best so that you can stay home and stay safe, and to do so, we had to bring the things you needed to your doorstep. For reprint rights: Syndications Today, Sashidhar Jagdishan appointed new HDFC Bank CEO; RBI gives go ahead, 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, Posted by: Manoj Sharma, Aug 04, 2020, 10:11 AM IST, Who will be Aditya Puri's successor? Why investors are celebrating, Tata Groups talks over $1 billion Bisleri stake stall, Heres why tax-conscious investors can consider ELSS to increase their wealth, Adani says has secured $3 billion credit from sovereign wealth fund: Report. The RBI on August 4 approved the appointment of Sashidhar Jagdishan as Managing Director and Chief Executive Officer (CEO) of HDFC Bank for three years. "Jagdishan has the necessary skills. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. 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. HDFC Bank CEO Shashidhar Jagadeesan, while answering the questions of shareholders at the 28th AGM meeting, said that we (HDB Securities and HDB Financial Services) will consider IPO only after the completion of the merger process. At HDFC Bank, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR. Download The Economic Times News App to get Daily Market Updates & Live Business News. 10,000, LeapToUnicorn - mentoring, networking and fundraising for startups. 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. 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Vice President, Finance at HDFC Bank Mr. Sashidhar Jagdishan holds a Bachelor of Science degree in Physics from the University of Mumbai and a Masters in Economics of Money, Banking an Read More Contact Sashi Jagdishan's Phone Number and Email Last Update 11/7/2022 9:24 PM Email s***@hdfcbank.com Engage via Email Credited with scripting the banks success story, Puri has grown the banks balance sheet by a consistent 20 percent-plus annual growth rate to Rs 1,545,103 crore now through the economic upturns and downturns. Jagdishan is currently Group Head and Change Agent, HDFC Bank. 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 {{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. What we hear from many employees is that Sashi is a hard task master and what is essential is to ensure the stellar execution track record that HDFC Bank has built over the years. Sashidhar Jagdishan is a 55-year-old man with a decent personality. 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 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. click here! With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate PLAN, Yearly Locality Bank. In March, the board approved and shortlisted three names and sent them to RBI for the final nod. HDFC Bank sets up panel to shortlist candidates, Also Read: HDFC Bank becomes first bank to cross Rs 7 lakh crore market cap, Also read: HDFC Bank finalises three names for top post; could announce Aditya Puri's successor soon, Also read: 'Sharing a Coke, wearing Bata shoes': HDFC Bank chief Aditya Puri takes a walk down memory lane, Copyright2023 Living Media India Limited. The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. 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. We do this when you refresh/move back on the browser on any NetBanking page. Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. He has black color hair and also has sparkling black color eyes. Also, in our marketing with investors across the globe, Sashi was their preferred choice. WebHDFC bank is a branch of HDFC. Mukesh Ambani to foray into genome testing with Rs 12,000 kit. HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. About nine per cent of HDFC Banks loan book is under moratorium. You could make payments using just the mobile number of a beneficiary. With the lockdown in full effect, we were at home every day, leaving us all more stressed and bored than ever. Age : 57. Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More, Sarah Michelle Gellar Age, Net Worth, Husband, Family and Biography (Updated 2023), Grace Van Dien Age, Net Worth, Boyfriend, Family and Biography (Updated 2023), Offset Age, Net Worth, Wife, Family and Biography (Updated 2023), Regina Ting Chen Age, Net Worth, Husband, Family and Biography (Updated 2023), Mae Martin Age, Net Worth, Boyfriend, Family and Biography (Updated 2023). 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.