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RBI has approved Sashidhar Jagdishan as next CEO of HDFC Bank.

Shubham Jaiswal (shubhjaiswal729@gmail.com)

The Reserve Bank of India (RBI) has approved Sashidhar Jagdishan as the next chief executive officer of HDFC Bank, sources said.

The private sector lender received the RBI’s approval letter last night. Jagdishan is currently additional director and head of finance, human resources, at the bank.

He will take over from Aditya Puri who will step down as the bank’s longest serving CEO ever since he took charge 26 years ago. Puri is set to retire by October this year.

Jagdishan was the bank’s top choice among the three shortlisted candidates, with Kaizad Bharucha and Sunil Garg also in the running.

In November, the bank had constituted a six-member search committee to find a replacement for Puri and had hired Egon Zehnder for assistance. Puri was an advisor to the search committee.

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