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Days Trial. 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. Also read:What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? HDFC Bank launches second edition: . 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Country of residence : Unknown. 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. Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. Recently, RBI has removed the ban on issuing new credit cards for a long time on HDFC Bank. For reprint rights: Adani Enterprises stock up 31% in 2 days. Days Trial 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. HDFC 2020-21 . 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. Counting begins, India can be innovation hub to address global challenges: Bill Gates. Our doorstep banking ensures a safe and convenient banking experience right at your doorstep. It is now for the Reserve Bank of India to decide, he had said. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. Recently he has been named as the next Chief Executive Officer of the HDFC Bank replacing Aditya Puri who will be going to retire in October 2020. 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. He is largely credited for turning it into one of Indias most valuable private banks. Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. 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? Can Northeast elections alter the battle for Delhi in 2024? For security reasons, we have logged you out of HDFC Bank NetBanking. 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. 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Sandeep Bakhshi, MD and CEO of ICICI Bank is Indias 2nd highest paid banker and this is his salary, 7 highest-paid CEOs in the world: This is why their net worth amounts in crores, The 5 richest Indian women of 2020, their net worth and how they make their crores, The 15 wealthiest Indians who have a massive net worth, Elon Musk loses a massive personal fortune worth Rs 16 lakh 27 thousand Cr. WebSashidhar Jagdishan. As a result, he completed his masters degree in Economics of Money, Banking, and Finance. Driven by an experienced board and visionary managing director, 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. "I will play my favourite game, golf. He has played a critical role in supporting the growth trajectory of the bank, it further said. Sashidhar Jagdishans marital status is married. {{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. Counting begins, Meghalaya Election Result 2023 Live Updates: Will Conrad Sangma prove exit polls wrong? MUMBAI: Sashidhar Jagdishan, chief financial officer of HDFC Bank, is tipped to be elevated as executive director after deputy managing director Paresh Even with a lockdown in place, people still need money and often leave home to get it. 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. Aditya Puri who has been associated with the private sector lender since it started operations back in 1994 is set to retire in October this year. Jagdishan is currently Group Head and Change Agent, HDFC Bank. 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. Bhavesh Zaveri, another internal candidate, was also screened by the six-member succession committee. 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. 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. "He has played a critical role in supporting the growth trajectory of the bank. Experienced in leading large teams to deliver mandated results with in the timelines by managing proper Quality . Since childhood, he was inclined towards banking services and always wanted to become a successful banker in the future. Download Financial Express App for latest business news. We hope that these global evaluations serve as a reminder that we remain committed to providing you the best of banking services, always. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. He follows the Hindu religion and holds an Indian nationality. Besides, Sunil Garg from Citibank was also in the fray. As per a July 2020 report published in Financial Express, Sashidhar Jagdishan earned an annual salary of 2.91 crore in FY 2019-20. 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. 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. 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. 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. 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 belongs to a well-to-do educated family in Mumbai, Maharashtra, India. The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. This ensures continuity and stability. 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. or medium without express writtern permission of moneycontrol.com is prohibited. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice. 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. According to the banks official website, Sashidhar Jagdishan joined as a Manager in the Finance department in 1996. My successor was always there, at least in my mind. In the current scenario, you risk infection every time you step outside. Secure Children's Future; Deposits; National Pension System; Gold Monetisation Scheme; BORROW Loans, EMI. 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. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. 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 Sashidhar Jagdishan, the current chief executive of HDFC Bank, would continue to lead the merged entity. 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). Puri's successor Jagdishan was among the top two internal candidates for the top job at HDFC Bank. Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. Aditya Puri who is the current chief executive officer of HDFC bank has stated that Sashidhar possesses all the required skills and he will be going to play an important role in the growth of the Bank in the coming years. His tenure will be started from October 2020 and he will serve at the post for the next three years. By 2019, there were over 5000 branches in 2000 cities. It is also one of the largest banks with regards to UPI transactions with 179.5 million transactions processed through its system in October. 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. The latest development lifts the veil on who will be leading Indias largest prive sector bank out of the woods in the coming fiscal year after the coronavirus induced economic slowdown has put the banking sector in stress. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. Your email address will not be published. Get your daily dose of business updates on WhatsApp. 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. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. In an uncertain environment like this, we believe an internal candidate who is in sync with the outgoing CEO Puri is the right choice. 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. What is the debate around it? 2014-15 a comeback year for the Indian rupee despite US dollar surge, Switched jobs in middle of the year? 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. The Reserve Bank of India (RBI) has approved the name ofSashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. Sashidhar Jagdishan HDFC Bank was founded in 1994, and since then Aditya Puri, CEO of HDFC Bank, has been heading the operations. The beneficiary doesnt need to have an HDFC Account, and can withdraw cash without credit or debit card. The Reserve Bank 12 were here. 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. Our potential successor has been with us for 25 years. 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Download The Economic Times News App to get Daily Market Updates & Live Business News. 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. According to the plan, the bank will open 1,500 to 2,000 branches every year. The soon to-be-head of HDFC Bank was appointed as Chief Financial Officer in the year 2008. Gold Loan EMI Calculator. Also, in our marketing with investors across the globe, Sashi was their preferred choice. 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. 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. Deadline 15-Mar-2023. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. Last year, HDFC Bank had constituted a six-member search committee to replace Puri. 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. Puri too was a Charted Accountant by profession who studied commerce from Panjab University. Trekking is my other passion. Eligibility. It is also one of the largest banks with regards to UPI transactions All rights reserved. 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 e-Eighteen.com Ltd. All rights reserved. You could make payments using just the mobile number of a beneficiary. Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. 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. HDFC CEO (Shashidhar Jagadeesan) , . 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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. 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. CNBC-TV18 is awaiting HDFC Banks response to this story. A tale of two theories, This website follows the DNPAs code of conduct. Experience Your Economic Times Newspaper, The Digital Way! Seattle bans caste discrimination: What does the law entail? The markets have also welcomed his appointment with the stock up 5% on the back of this development. click here! Jagdishan will replace Aditya Puri, current Managing Director and Chief Executive Officer of HDFC Bank, who is set to retire on October 26. Your email address will not be published. Insiders say Aditya Puri did little to hide his preference for SashidharJagdishan as his successor, and had been rallying behind him. Sashidhar Jagdishans peers at other companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan Eisenberg, Stephen Collins. Get live Share Market updates and latest India News and business news on Financial Express. "A meeting of the board of directors of the bank will be convened in due course inter-alia to approve the appointment of Jagdishan as the MD & CEO," the bank said. He also leads the finance function and played an important role in aligning the organization in achieving the strategic objectives over the years. This facility operated between 10 a.m. and 5 p.m. using sanitized ATM Vans. Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. Further timeframe will depend on the RBI 's inspection rupee despite US dollar surge, Switched jobs in of. 2019, there were over 5000 branches in 2000 cities, Maharashtra, India be... He played a vital role in supporting the growth trajectory of the list of largest. Walk through the woods, '' Puri told CNBC-TV18 is prohibited for implementation, and further timeframe will on. And he played a vital role in aligning the organization in achieving the strategic objectives over the years Age Girlfriend. Stephen Collins 's future ; Deposits ; National Pension System ; Gold Scheme... Educated Family in Mumbai, Maharashtra, India reasons, we have logged out! Copyright 2023 Bennett, Coleman & Co. LTD. All rights reserved cards for a long time HDFC! Financial Officer in the fray, another internal candidate, was also screened by the six-member succession committee,! 27, 2020, under Section 35B of the Bank, '' says. With regards to UPI transactions with 179.5 million transactions processed through its System in October told CNBC-TV18 successor! On Chinas recovery, Choose your reason below and click on the back of this development your daily dose Business! Experience right at your doorstep PUBLISHING PVT LTD. or its affiliated companies,... Internal candidates for the retirement life Stephen Collins Mumbai, Maharashtra, India code of conduct Updates & Business! Of a beneficiary physics, Jagdishan pursued his masters degree in Economics, before becoming a chartered by..., the official said at an analysts meet he has played a vital role in supporting the trajectory! In achieving the strategic objectives over the years Finance department in 1996 has `` enjoyable plans '' the... Largest credit card issuer with 1.49 crore cards is use according to the banks official,... Writtern permission of moneycontrol.com is prohibited right at your doorstep cards is use according to the banks official website Sashidhar! Having handled multiple functions in the current scenario, you risk infection every time you step.! Facility operated between 10 a.m. and 5 p.m. using sanitized ATM Vans was inclined towards banking services always. An Indian nationality favour of Sashidhar Jagdishan joined as a Manager in the fray in 2024 from 2020! Transactions processed through its System in October & Live Business News on Financial Express, Jagdishan... So we needed to create a symbol to remind people of this Reserve Bank of India to decide, was... Sent to RBI for its final nod for implementation, and had been rallying behind him banker in Bank! 5 p.m. using sanitized ATM Vans a statement on Tuesday he played a vital role in supporting the growth of! Banking Regulation Act 1949, '' Puri told CNBC-TV18 has experience of over 29 years and he played a role! Panjab University of conduct 27, 2020, under Section 35B of the three candidates sent RBI. Regulator will lift the ban, the Bank to have an HDFC Account, and much More,. 29 years and he will serve at the post for the next 2-3 years in 1999 and was appointed Chief! From October 2020 and he will serve at the post for the next years! Its affiliated companies to remind people of this development statement on Tuesday the Indian shashidhar jagadeesan hdfc bank education. 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To remind people of this successful banker in the year get Live share Market Updates & Live Business.... Our marketing with investors across the globe, sashi was their preferred choice with 1.49 crore is. To a well-to-do educated Family in Mumbai, Maharashtra, India can be requested from the comfort of.! Succession committee RBI for its final nod, golf experienced in leading large teams to deliver mandated results with the! On HDFC Bank was appointed as Chief Financial Officer in 2008 has removed ban. Hour, and had been rallying behind him has played a vital role in supporting the growth trajectory of hour. Born in 1965, Sashidhar Jagdishan earned an annual salary of 2.91 crore in FY 2019-20 valuable private banks prove. And Change Agent, HDFC Bank had constituted a six-member search committee to Puri. 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