HDFC Bank Announces New Chief Executive Amid Banking Sector Changes

HDFC Bank has disclosed that Anup Bagchi will become its Managing Director and CEO starting October 27, 2026. The decision, cleared by the Reserve Bank of India, follows the departure of Shashidhar Jagdishan, whose term concludes on October 26, 2026. Bagchi, currently the MD‑CEO of ICICI Prudential Life, will also be appointed as an additional director, with the move requiring approval from shareholders as per the Companies Act, 2013. The RBI’s sanction under Section 35BB of the Banking Regulation Act validates the appointment and the remuneration structure for the three‑year tenure.