This will alert our moderators to take action. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. 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. +Includes DocuBay and TimesPrime Membership. 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. 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! Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. Car Loan BT Top-Up Calculator. Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. Sashidhar Jagdishan, the current chief executive of HDFC Bank, would continue to lead the merged entity. 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. IRCTC partners with Easebuzz, Crypto mixers received 24% of total funds from illegal addresses in 2022: Blog, Q3 GDP growth slower than expected at 4.4%: which sectors lagged, which outperformed, US Secretary of State Tony Blinken will reaffirm strength of bilateral ties with India: White House, Crypto regulations in 2023; how does the world look at it, Petrol and Diesel Rate Today, 2 March: Fuel prices steady; Check rates in Delhi, Mumbai, other cities, Will Nifty hold onto gains or fall below 17400? With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate It is now for RBI to decide, he said. Your email address will not be published. WebHDFC Bank Parivartan's ECS Scholarship in School Programme (Merit-cum-Need Based) 2022-23. 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. 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. "He has played a critical role in supporting the growth trajectory of the bank. Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. It is also one of the largest banks with regards to UPI transactions Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. We hope that these global evaluations serve as a reminder that we remain committed to providing you the best of banking services, always. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. HDFC 2020-21 . Puri's successor Jagdishan was among the top two internal candidates for the top job at HDFC Bank. Bhavesh Zaveri, another internal candidate, was also screened by the six-member succession committee. So, we brought youTheArtProject, an online platform for people of all age groups to show the world how they see the world through the canvas of Arts, Crafts and Photography. Reproduction of news articles, photos, videos or any other content in whole or in part in any form 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. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. They had a SIP Calculator. 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? Secure Children's Future; Deposits; National Pension System; Gold Monetisation Scheme; BORROW Loans, EMI. 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. 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. 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. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. For security reasons, we have logged you out of HDFC Bank NetBanking. Get preferential loan rates & bank locker with HDFC Bank savings account. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. Our potential successor has been with us for 25 years. 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+. his date of taking charge, i.e. Recently, RBI has removed the ban on issuing new credit cards for a long time on HDFC Bank. He is no stranger to the bank and has been with it for nearly 25 years, starting out as a Manager in the finance function. Invest as low as 10,000 and earn better returns than FD, Find safe & high-yielding bonds for your buck. WebHDFC bank is a branch of HDFC. Market Research. To adhere to social distancing norms, we promoted cardless withdrawals and transfers that were easy, convenient, hassle-free and best of all required no contact. 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. Your Reason has been Reported to the admin. It had reported a robust 19.6 per cent growth in its net profit for the first quarter of the fiscal. 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. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. Sashidhar Jagdishans peers at other companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan Eisenberg, Stephen Collins. Recurring Deposit Calculator. 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. 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. The applicants must have passed the previous qualifying examination with at least 55% marks. Edited By jyoti choudhary, Updated: 25 Jul, 2021 05:36 PM. 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. 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. Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice. 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. A tale of two theories, This website follows the DNPAs code of conduct. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. Prior to HDFC Bank Aditya Puri was the Chief Executive of Citi Bank, in Malaysia where he handled functions across countries likeGreece, Saudi Arabia, Hong Kong, Korea, Taiwan, India and China. The students must be currently studying in Classes 1 to 12 in a private, government, or government-aided school. There is no information available about his wife and children. He is a chartered accountant by profession and holds a Masters degree in Economics of Money, Banking & Finance from The University of Sheffield in the UK. Weve done our very best to make these tough times a little easier for you. 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. Counting begins, India can be innovation hub to address global challenges: Bill Gates. Last year, HDFC Bank had constituted a six-member search committee to replace Puri. Download The Economic Times News App to get Daily Market Updates & Live Business News. The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank. Linked companies : HDFC Bank Limited. Loans On Credit Card EMI Calculator. Driven by an experienced board and visionary managing director, Includes DocuBay and TimesPrime Membership. 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. 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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. 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 has experience of over 29 years and he played a vital role in supporting the growth of the HDFC bank. However, the silver lining was that we now had the time and motivation to showcase our creativity to the world. Required fields are marked *. In an uncertain environment like this, we believe an internal candidate who is in sync with the outgoing CEO Puri is the right choice. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. We adhered to social distancing norms and also provided people with sanitizers before and after operating the ATM machine. 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According to the banks official website, Sashidhar Jagdishan joined as a Manager in the Finance department in 1996. WebHDFC Bank Research - Reports; Protect Life And Grow Wealth. Also read: Who will be Aditya Puri's successor? 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The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. 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. 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. 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. He is largely credited for turning it into one of Indias most valuable private banks. The Reserve Bank of India (RBI) has approved the name ofSashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. By 2019, there were over 5000 branches in 2000 cities. CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. RBI sent us the letter with Sashidhar Jagdishans name approved for the CEO post late last night, confirmed an insider to CNBC-TV18. 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. 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 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. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. 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. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? Debit Cards Calculator. The lender has reportedly received the approval from the central bank last night. Two Wheeler EMI Calculator. Counting begins, Meghalaya Election Result 2023 Live Updates: Will Conrad Sangma prove exit polls wrong? 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 joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years. Copyright 2023, THG PUBLISHING PVT LTD. or its affiliated companies. To read full story, subscribe to ET Prime, Billed annually at The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. Gold Loan EMI Calculator. 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. 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. As a result, he completed his masters degree in Economics of Money, Banking, and Finance. Shashidhar Jagdishan as HDFC Bank CEO to ensure continuity, stability Sashi joined the bank in 1996 as a manager in the finance function and has overall experience He has black color hair and also has sparkling black color eyes. HDFC Bank had in April this year recommended Shashidhar Jagdishan, Kaizad Bharucha and Sunil Gargs names for post. My successor was always in place, at least in my mind. 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. 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. It is also one of the largest banks with regards to UPI transactions with 179.5 million transactions processed through its system in October. Besides, Sunil Garg from Citibank was also in the fray. What is the debate around it? 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. Jan 24, 2023, 16:40 ET. It has nearly 300 shareholders and 90% of them are local. HDFC Bank's board has given Egon Zehnder a set of attributes to look for in Puri's potential successors. Jagdishan has worked closely with Puri since he joined the bank in the 1996. Scrutiny of IDBI Bank bidders to begin after Holi, Axis Bank completes Citis retail biz buy for Rs 11,603 cr, Citi India staffers set to chart new Axis, Evidence suggests private sector is ready for capex, Copyright 2023 The Indian Express [P] Ltd. All Rights Reserved, hdfc banks new ceo found rbi approves shashidhar jagdishan to succeed aditya puri report, Domestic LPG cylinder price hiked Rs 50, cooking gas gets costlier in Delhi, Mumbai, other cities; check prices, Good news for Indian Railways commuters! Sashidhar Jagdishan is the current Additional Director and Head of Finance at the HDFC Bank, India. Our aim was to keep you engaged and give you a #BreakFromBoredom so that you could stay home, stay safe and be creative. Eligibility. HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. According to the plan, the bank will open 1,500 to 2,000 branches every year. Initially, he served as a Manager in the finance function and then promoted at the post of Business Head Finance in 1999. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. Also, in our marketing with investors across the globe, Sashi was their preferred choice. 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. 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. 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. 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. 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 They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. Jagdishan will replace Aditya Puri, current Managing Director and Chief Executive Officer of HDFC Bank, who is set to retire on October 26. Since childhood, he was inclined towards banking services and always wanted to become a successful banker in the future. 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. Your email address will not be published. Sashidhar Jagdishan completed his early schooling from a private school in his hometown and after that, he completed his graduate course in the Bachelor of Science from Mumbai University then completed masters in Economics of Money, Banking, and Finance from the University of Sheffield in the United Kingdom. 12 were here. 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. click here! 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. HDFC Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. "I will play my favourite game, golf. To revisit this article, visit My Profile, then View saved stories. "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. 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. 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 Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. WebCar Loan EMI Calculator. WebThe Senior Management Team at HDFC Bank brings together a prestige of expertise and a wealth of experience. HDFC CEO (Shashidhar Jagadeesan) , . 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. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Country of residence : Unknown. He also leads the finance function and played an important role in aligning the organization in achieving the strategic objectives over the years. Dont miss out on ET Prime stories! Here we take a look at five frontline contenders. Even with a lockdown in place, people still need money and often leave home to get it. The outgoing Aditya Puri nurtured the private sector bank from the rudimentary stage as he aimed to create a world-class Indian Bank. WebHowever, for this one will have to wait till the merger of HDFC Bank and HDFC. 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