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Anup Bagchi to Lead HDFC Bank as RBI Clears Appointment
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News18•01-10-2026, 20:00
Anup Bagchi to Lead HDFC Bank as RBI Clears Appointment
- •Anup Bagchi is set to become the next chief executive and managing director of HDFC Bank, following approval from the Reserve Bank of India.
- •Bagchi, previously with ICICI Bank and its subsidiaries since 1992, will succeed Sashidhar Jagdishan, whose tenure faced allegations of unethical conduct.
- •He will assume the MD and CEO role from October 27 for a three-year term, having most recently served as MD and CEO of ICICI Prudential Life Insurance.
- •Bagchi faces challenges including increasing core income amid pressure on net interest margins and curbing product mis-selling.
- •His appointment follows governance issues at HDFC Bank, including the resignation of non-executive chairman Atanu Chakraborty and revelations of product mis-selling.
Key Questions Answered
Anup Bagchi is set to become the next managing director and chief executive officer of HDFC Bank for a three-year term starting October 27, following approval from the Reserve Bank of India.
Sashidhar Jagdishan's six-year stint as the head of HDFC Bank concludes on October 26, after he opted out of the reappointment race in August.
HDFC Bank submitted two names to the Reserve Bank of India for approval: internal candidate and deputy managing director Kaizad Bharucha, and external candidate Anup Bagchi.
