Sashidhar Jagdishan is the new CEO of HDFC Bank, India’s largest private sector bank by assets. Report says that the Reserve Bank of India has cleared his name for the top job at HDFC Bank. He will take over from Aditya Puri, the bank’s longest-serving CEO ever since he took charge 26 years ago. Mr. Puri had hinted that his successor would be an insider.
Mr. Jagdishan is an HDFC Bank veteran having served in different posts at the bank for the last 30 years. He has held the posts of Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social at HDFC Bank.
Mr. Jagdishan was the bank’s top choice among the three shortlisted candidates, with Kaizad Bharucha and Sunil Garg whose names were sent to RBI. The new CEO will take over at a time when the banking industry is facing a new crisis in the aftermath of the corona pandemic. Lending has slowed significantly and the industry is bracing for an increase in bad loans once the moratorium period ends.