Get live Share Market updates and latest India News and business news on Financial Express. Sashidhar Jagdishan has experience of over 29 years and he played a vital role in supporting the growth of the HDFC bank. 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. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. There is not much information available about his parents and siblings as he never revealed anything about his personal life in public. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. or medium without express writtern permission of moneycontrol.com is prohibited. On December 3, in an unprecedented move the bank was barred from issuing new credit cards and launching any new digital products after multiple issues linked to digital banking, cards and payments on the bank's platform in the last two years. Unlock your 30 days free access to ETPrime now. The Reserve Bank of India (RBI) has approved the name ofSashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. Having almost 3 decades of experience in the banking industry,Sashidhar Jagdishan is Charted Accountant by profession who also holds a Masters degree in Economics of Money, Banking & Finance. FORT LAUDERDALE, Fla., Jan. 24, 2023 /PRNewswire/ -- Locality Bank, the first community bank to open in South Florida in more Driven by an experienced board and visionary managing director, Seattle bans caste discrimination: What does the law entail? We partnered with A.R. 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. 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. Recently, RBI has removed the ban on issuing new credit cards for a long time on HDFC Bank. Weve done our very best to make these tough times a little easier for you. Lenders led by the State Bank of India (SBI) that are conducting an annual review of Adani Enterprises Ltd (AEL) have decided to maintain status quo on credit limits sanctioned for Gautam Adanis flagship company, said two people aware of the development. 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He didnt have any tattoo painted on his body. Benchmark bond yields in India climbed to their highest since the first week of November as tightening liquidity and concerns over higher government borrowing in FY24 dented demand for sovereign debt. This will alert our moderators to take action. WebHowever, for this one will have to wait till the merger of HDFC Bank and HDFC. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. Jagdishan has worked closely with Puri since he joined the bank in the 1996. I prefer to walk through the woods," he says. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. Sashidhar Jagdishan joined the HDFC bank in 1996, after the completion of his masters degree. Music will become the filler, he adds. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. Kaizad Barucha, who has the highest board experience, was the senior-most candidate in the fray. Our doorstep banking ensures a safe and convenient banking experience right at your doorstep. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. 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. 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? We do this when you refresh/move back on the browser on any NetBanking page. 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. Besides, Sunil Garg from Citibank was also in the fray. 2499 1749, Monthly He has an average body build up with an average physique. They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. PLAN, Access the exclusive Economic Times stories, Editorial and Expert opinion, 90 Days Prime access worth Rs999 unlocked for you, Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors, Stock analysis. 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. Trekking is my other passion. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. WebKnown Addresses for Bar Education, Inc. 1900 W Commercial Blvd Fort Lauderdale, FL 33309 6350 N Andrews Ave Fort Lauderdale, FL 33309 16120 US Highway 19 N Mukesh Ambani to foray into genome testing with Rs 12,000 kit. Days Trial JLP offers the best standardized test-prep and customized K-12 tutoring throughout Miami-Dade and Sashidhar Jagdishan Wiki, Age, Girlfriend, Wife, Family, Biography & More, Sudigali Sudheer Age, Net Worth, Girlfriend, Family and Biography (Updated 2023), Mufti Anas Age, Net Worth, Wife, Family and Biography (Updated 2023), Dalton Gomez Age, Net Worth, Wife, Sister, Family, Height and Biography (Updated 2023), Drone Prathap Age, Net Worth, Girlfriend, Family and Biography. To revisit this article, visit My Profile, then View saved stories. 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. 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. Sashi joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years. Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. 10,000, LeapToUnicorn - mentoring, networking and fundraising for startups. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. You could make payments using just the mobile number of a beneficiary. Fixed Deposit Calculator. 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. 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. 2014-15 a comeback year for the Indian rupee despite US dollar surge, Switched jobs in middle of the year? Sashidhar Jagdishans marital status is married. 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. Our potential successor has been with us for 25 years. 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. Last year, HDFC Bank had constituted a six-member search committee to replace Puri. Their first office was founded in Maharashtra, India. Sanzone said his group completed a $29.15 million private capital raise for Evermore Bank. We also used the song to encourage people to contribute to the PM-CARES Fund and support the nation in these trying times. It was established in 1994. "I will play my favourite game, golf. Rahman, Prasoon Joshi and other eminent artists to bring you a tribute to the spirit of India and the millions of Indians fighting the COVID-19 pandemic. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. Puri too was a Charted Accountant by profession who studied commerce from Panjab University. Dont miss out on ET Prime stories! PLAN. Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. He follows the Hindu religion and holds an Indian nationality. He added that HDFC Securities will be responsible and exuded confidence that it will gain market share in the next 2-3 years. Register now. 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 Eligibility. 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. 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. He also joined the bank around 1996 as a Manager in the Finance function, and then went on to became Business Head - Finance in 1999 and Chief Financial Officer in the year 2008. It is now for the Reserve Bank of India to decide, he had said. Our aim was to keep you engaged and give you a #BreakFromBoredom so that you could stay home, stay safe and be creative. At HDFC Bank, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR. "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. With the lockdown in full effect, we were at home every day, leaving us all more stressed and bored than ever. Sashidhar Jagdishan is a 55-year-old man with a decent personality. 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. In March, the board approved and shortlisted three names and sent them to RBI for the final nod. +Includes DocuBay and TimesPrime Membership. 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. 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. Experienced in leading large teams to deliver mandated results with in the timelines by managing proper Quality . Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. SIP Calculator. PLAN, Yearly For reprint rights: Adani Enterprises stock up 31% in 2 days. The beneficiary doesnt need to have an HDFC Account, and can withdraw cash without credit or debit card. Can Northeast elections alter the battle for Delhi in 2024? His tenure will be started from October 2020 and he will serve at the post for the next three years. HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. This ensures continuity and stability. WebHDFC bank is a branch of HDFC. Get your daily dose of business updates on WhatsApp. Religion and holds an Indian nationality have to wait till the merger of HDFC Bank in 1996 as a in! Played a vital role in supporting the growth of the organisation rupee,,! Private capital raise for Evermore Bank be responsible and exuded confidence that it will gain share... On issuing new credit cards for a long time on HDFC Bank to walk through the,... 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