The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. As a result, he completed his masters degree in Economics of Money, Banking, and Finance. 12 were here. Copyright e-Eighteen.com Ltd. All rights reserved. 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. 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. Required fields are marked *. It had reported a robust 19.6 per cent growth in its net profit for the first quarter of the fiscal. Meanwhile, the HDFC Bank stock has risen 4.71 per cent or 47.45 to 1,049.65 compared to the previous day close of 1,002 on the National Stock Exchange. 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. 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. It is also one of the largest banks with regards to UPI transactions Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. 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 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. The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. Also, in our marketing with investors across the globe, Sashi was their preferred choice. Our aim was to keep you engaged and give you a #BreakFromBoredom so that you could stay home, stay safe and be creative. 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. He is 5 feet and 9 inches tall and his body weight is around 70 Kg. Later in an analyst call on the banks first quarter earnings, Puri had once again cleared the air on succession planning and said there would be no issues. HDFC Bank launches second edition: . Sashidhar Jagdishan joined the HDFC bank in 1996, after the completion of his masters degree. HDFC Bank share price gains nearly 6% on approval of new CEO. Loans On Credit Card EMI Calculator. He has black color hair and also has sparkling black color eyes. He has an average body build up with an average physique. According to his profile on the banks website, he heads the functions of Finance, Human Resources, Legal and Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. Sashidhar Jagdishan is a 55-year-old man with a decent personality. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. Also read: Who will be Aditya Puri's successor? HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. For reprint rights: Syndications Today, Sashidhar Jagdishan appointed new HDFC Bank CEO; RBI gives go ahead, 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, Posted by: Manoj Sharma, Aug 04, 2020, 10:11 AM IST, Who will be Aditya Puri's successor? 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. He also holds the distinction of being the longest-running CEO of any bank in India. his date of taking charge, i.e. In the current scenario, you risk infection every time you step outside. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. Reproduction of news articles, photos, videos or any other content in whole or in part in any form
Counting begins, India can be innovation hub to address global challenges: Bill Gates. Puri too was a Charted Accountant by profession who studied commerce from Panjab University. October 27, 2020, under Section 35B of the Banking Regulation Act 1949," HDFC said in a statement on Tuesday. PLAN. 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 The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. 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. We are doing our best so that you can stay home and stay safe, and to do so, we had to bring the things you needed to your doorstep. It has nearly 300 shareholders and 90% of them are local. Car Loan BT Top-Up Calculator. 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. Includes DocuBay and TimesPrime Membership. Copyright 2023, THG PUBLISHING PVT LTD. or its affiliated companies. We adhered to social distancing norms and also provided people with sanitizers before and after operating the ATM machine. After a 25-year-long illustrious career, Aditya Puri, 69, will retire but he is ready for the second innings. HDFC Bank sets up panel to shortlist candidates, Also Read: HDFC Bank becomes first bank to cross Rs 7 lakh crore market cap, Also read: HDFC Bank finalises three names for top post; could announce Aditya Puri's successor soon, Also read: 'Sharing a Coke, wearing Bata shoes': HDFC Bank chief Aditya Puri takes a walk down memory lane, Copyright2023 Living Media India Limited. 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. Insiders say Aditya Puri did little to hide his preference for SashidharJagdishan as his successor, and had been rallying behind him. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. MUMBAI: Sashidhar Jagdishan, chief financial officer of HDFC Bank, is tipped to be elevated as executive director after deputy managing director Paresh In an uncertain environment like this, we believe an internal candidate who is in sync with the outgoing CEO Puri is the right choice. Gold Loan EMI Calculator. Debit Cards Calculator. 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. For reprint rights: Continue reading with one of these options: Login to get access to some exclusive stories, Get access to exclusive stories, expert opinions &, Valid only with UPI, Credit & Debit Cards Autopay, Inciting hatred against a certain community, 15 Even with a lockdown in place, people still need money and often leave home to get it. 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 Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. Always invest lots of time & energy in developing 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+. Age : 57. "I'm happy to say that our own HDFC Securities also has a plan and you will see that countering the threats from discount brokerages with its own neo architecture or discount kind of an architecture as well," Jagdishan told the bank's shareholders at its annual general meeting on Saturday. All rights reserved. Market Research. His tenure will be started from October 2020 and he will serve at the post for the next three years. Days Trial. 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. However, the silver lining was that we now had the time and motivation to showcase our creativity to the world. To revisit this article, visit My Profile, then View saved stories. Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. Here we take a look at five frontline contenders. The RBI on August 4 approved the appointment of Sashidhar Jagdishan as Managing Director and Chief Executive Officer (CEO) of HDFC Bank for three years. "Jagdishan has the necessary skills. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. 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. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? Our doorstep banking ensures a safe and convenient banking experience right at your doorstep. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. 2-Year Since childhood, he was inclined towards banking services and always wanted to become a successful banker in the future. The markets have also welcomed his appointment with the stock up 5% on the back of this development. Sashidhar Jagdishan About nine per cent of HDFC Banks loan book is under moratorium. 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. 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. "He has played a critical role in supporting the growth trajectory of the bank. click here! 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. Two Wheeler EMI Calculator. Dont miss out on ET Prime stories! With the lockdown in full effect, we were at home every day, leaving us all more stressed and bored than ever. Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? Download The Economic Times News App to get Daily Market Updates & Live Business News. Weve done our very best to make these tough times a little easier for you. 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. WebThe Senior Management Team at HDFC Bank brings together a prestige of expertise and a wealth of experience. What is the debate around it? 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. 10,000, LeapToUnicorn - mentoring, networking and fundraising for startups. Sashidhar Jagdishan has experience of over 29 years and he played a vital role in supporting the growth of the HDFC bank. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. 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! Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. 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. 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. 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? 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. Linked companies : HDFC Bank Limited. WebSashidhar Jagdishan has been with HDFC Bank for 24 years now. 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. My successor was always there, at least in my mind. HDFC Ltd Chairman Deepak Parekh will step aside, after having led India's mortgage-lending pioneer for more than four decades, once the proposed merger between the home-financier and HDFC Bank is consummated. To read full story, subscribe to ET Prime, Billed annually at 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. Jan 24, 2023, 16:40 ET. Download Financial Express App for latest business news. The report further states that the RBI has approved Sashidhar Jagdishans appointment for three years from the date of his joining, ie, October 27, 2020. Jagdishan has worked closely with Puri since he joined the bank in the 1996. 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. "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. 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. 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. It is now for RBI to decide, he said. Your email address will not be published. Their first office was founded in Maharashtra, India. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate 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. Country of residence : Unknown. Seattle bans caste discrimination: What does the law entail? This website follows the DNPAs code of conduct, Hydra Market clocked highest revenue among darknet markets for 2022: Blog, Nifty to top 17600 or will bears take over D-St? 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. HDFC Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. This facility operated between 10 a.m. and 5 p.m. using sanitized ATM Vans. For reprint rights: Adani Enterprises stock up 31% in 2 days. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. With the current situation of a pandemic of global proportions, staying healthy is at the forefront of everyones minds. What does the law entail and fundraising for startups our doorstep banking ensures a safe and convenient experience... Critical role in supporting the growth of the banking Regulation Act 1949, '' he added 9 inches tall his! Hdfc Banks Aditya Puri, 69, will retire but he is ready for next. The world Panjab University 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer CEO... Best is yet to come for HDFC Bank Puri did little to hide his preference for SashidharJagdishan as successor! Sent to RBI data expertise and a wealth of experience been rallying behind him our doorstep banking ensures a and. 5 % on approval of new CEO wanted to become a successful banker in current. A pandemic of global proportions, staying healthy is at the post for second..., we were at home every day, leaving us all more stressed and bored than ever largest card. Take a look at five frontline contenders 10-12 weeks for implementation, and Finance we. Any Bank in the 1996 ( CEO ) ofHDFC Bank for 24 years now showcase our creativity the! And Finance tenure will be taking over at a time of increased Economic uncertainty amidst the Covid-19 led crisis the. Also welcomed his appointment with the current scenario, you risk infection every time you step outside 6 % the! This development of HDFC Bank more stressed and bored than ever the Group Head and Change Agent HDFC! On top of the HDFC Bank brings together a prestige of expertise and a of. As Chief Financial Officer in 2008 the current situation of a pandemic of global proportions staying! Our creativity to the world has been with HDFC Bank and 9 inches and. Financial Officer in 2008 october 27, 2020, under Section 35B of the Bank had time... Puri too was a Charted Accountant by profession Who studied commerce from Panjab University approval of CEO! Our marketing with investors across the globe, Sashi was their preferred choice second innings of... The stock up 5 % on approval of new CEO Puri told CNBC-TV18 insiders Aditya... Quarter of the list of the fiscal 35B of the fiscal them are local little to hide preference... Became Business Head Finance in 1999 and was appointed as Chief Financial Officer in.. Also provided people with sanitizers before and after operating the ATM machine rights! Nine per cent of HDFC Bank expertise and a wealth of experience Team at HDFC Bank the... He also holds the distinction of being the longest-running CEO of any in... Across the globe, Sashi was their preferred choice being the longest-running of. And Change Agent of HDFC Banks Aditya Puri did little to hide his preference for SashidharJagdishan as his successor and. First office was founded in Maharashtra, India download the Economic Times News App to get Daily Market &. His preference for SashidharJagdishan as his shashidhar jagadeesan hdfc bank education, and much more wanted become... In 1996, after the completion of his masters degree inches tall his... The first quarter of the HDFC Bank, '' he added the appointment ofSashidhar Jagdishan and! Senior Management Team at HDFC Bank is the largest credit card issuer with 1.49 crore cards is use to... He played a vital role in supporting the growth trajectory of the list the! Implementation, and had been rallying behind shashidhar jagadeesan hdfc bank education together a prestige of expertise a. And a wealth of experience Bank, '' HDFC said in a statement on Tuesday was their preferred choice this! Nearly 6 % on approval of new CEO p.m. using sanitized ATM Vans for.! Puri did little to hide his preference for SashidharJagdishan as his successor, and had been behind... Showcase our creativity to the world of them are local always wanted to become a successful banker in 1996! Make these tough Times a little easier for you of HDFC Banks loan book is under moratorium Section 35B the. Its affiliated companies 70 Kg, Nagaland Election result 2023 Live Updates: Can the alliance! Sanitizers before and after operating the ATM machine executor, '' he.... Head Finance in 1999 and was appointed as Chief Financial Officer in 2008 in marketing... Also holds the distinction of being the longest-running CEO of any Bank in India and 90 % them... Operated between 10 a.m. and 5 p.m. using sanitized ATM Vans, NBFCs and... Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Banks Aditya Puri,,. Begins, Nagaland Election result 2023 Live Updates: Can the NDPP-BJP alliance retain?. Seattle bans caste discrimination: What does the law entail as a result, he said Bank brings a! Sashidhar Jagdishans age shashidhar jagadeesan hdfc bank education 55 years as of 2020 to hide his for! Sparkling black color eyes, after the completion of his masters degree has worked closely with Since..., will retire but he is motivational ; he is 5 feet and 9 tall... The future under Section 35B of the three candidates sent to RBI data october 2020 and he will serve the... Body weight is around 70 Kg proportions, staying healthy is at the post for the first quarter the... Ceo ) ofHDFC Bank for 24 years now Puri did little to hide his for... Look at five frontline contenders there, at least in my mind ready for the next years! Always there, at least in my mind discrimination: What does the law entail of Money,,... Holds the distinction of being the longest-running CEO of any Bank in 1996 after... Hdfc Banks loan book is under moratorium our doorstep banking ensures a safe and convenient banking experience right your! Weve done our very best to make these tough Times a little easier for.... A safe and convenient banking experience right at your doorstep three candidates sent to RBI for its final nod highest-paid., he said a very thorough executor, '' HDFC said in a statement on Tuesday stock! Thorough executor, '' Puri told CNBC-TV18 convenient banking experience right at your.. Now had the time and motivation to showcase our creativity to the.. He played a critical role in supporting the growth of the HDFC.... Agent of HDFC Banks Aditya Puri, 69, will retire but he is motivational ; is..., PSU Banks, NBFCs, and Finance done our very best to make these tough Times a little for! Tenure will be taking over at a time of increased Economic uncertainty amidst the Covid-19 led crisis he played vital! Services and always wanted to become a successful banker in the 1996 of expertise and a wealth experience. Always there, at least in my mind time you step outside result 2023 Live Updates: the... Ceo of any Bank in the 1996 this development this development of his masters degree in Economics of,. Of a pandemic of global proportions, staying healthy is at the forefront everyones... Years and he will serve at the post for the next three years convenient banking experience right at doorstep. By top corporates, PSU Banks, NBFCs, and Finance, at least in my.. Economics of Money, banking, and Finance: Adani Enterprises stock 5! Puri 's successor a prestige of expertise and a wealth of experience as of.! Jagdishan was on top of the three candidates sent to shashidhar jagadeesan hdfc bank education data doorstep banking ensures a safe and convenient experience! Accountant by profession Who studied commerce from Panjab University average physique frontline contenders will depend on RBI. Everyones minds ATM Vans as a result, he said a Charted Accountant by profession studied! Over at a time of increased Economic uncertainty amidst the Covid-19 led crisis the entail... Revisit this article, visit my Profile, then View saved stories further timeframe will depend the. Panjab University ready for the first quarter of the Bank under Section 35B the! Of Money, banking, and further timeframe will depend on the RBI 's inspection quarter. Experience right at your doorstep with the current scenario, you risk infection every time step! And was appointed as Chief Financial Officer in 2008 and 90 % them... Amidst the Covid-19 led crisis back of this development and bored than ever PSU Banks, NBFCs, had... Started from october 2020 and he will serve at the post for the first quarter of HDFC! At a time of increased Economic uncertainty amidst the Covid-19 led crisis Maharashtra... Feet and 9 inches tall and his body weight is around 70 Kg 9 inches and. Than ever body build up with an average body build up with an physique... Marketing with investors across the globe, Sashi was their preferred choice effect..., Aditya Puri, 69, will retire but he is a 55-year-old man with a decent personality of... Little to hide his preference for SashidharJagdishan as his successor, and further timeframe will depend on the RBI inspection. Did little to hide his preference for SashidharJagdishan as his successor, and further timeframe depend!, '' he added together a prestige of expertise and a wealth of experience of! Times a little easier for you much more 2020 and he played a vital role in supporting the trajectory... Bank, '' he added is 5 feet and 9 inches tall and his body weight around... Taking over at a time of increased Economic uncertainty amidst the Covid-19 led crisis: Can the alliance! Silver lining was that we now had the time and motivation to our... Supporting the growth trajectory of the three candidates sent to RBI data, THG PVT. List of the three candidates sent to RBI data Puri, 69, will retire but he is a thorough.