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RBI to Decide HDFC Bank's New CEO in Days: Bagchi or Bharucha Frontrunners
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Moneycontrol•24-09-2026, 09:16
RBI to Decide HDFC Bank's New CEO in Days: Bagchi or Bharucha Frontrunners
- •The Reserve Bank of India (RBI) is set to fast-track the selection of HDFC Bank's next CEO within 7-10 days, as current MD and CEO Sashidhar Jagdishan's term concludes next month.
- •Anup Bagchi of ICICI Life Insurance and Kaizad Bharucha, HDFC Bank's deputy MD, are the top contenders, with Bagchi reportedly the board's preferred choice.
- •The RBI aims to avoid an interim arrangement to boost investor confidence and ensure a long-term leadership solution for India's largest private bank.
- •The new CEO is expected to address investors alongside Jagdishan during the bank's Q2 results announcement on October 17.
- •ICICI Bank has reportedly initiated a succession plan for ICICI Life Insurance, anticipating Bagchi's potential move to HDFC Bank.
Key Questions Answered
The two primary contenders shortlisted to succeed Sashidhar Jagdishan are Anup Bagchi of ICICI Life Insurance and Kaizad Bharucha, the deputy managing director of HDFC Bank, with Bagchi viewed as the frontrunner.
The Reserve Bank of India is expected to finalize and announce the appointment of HDFC Bank's new chief executive officer within a timeframe of 7 to 10 days.
The selection is fast-tracked because incumbent CEO Sashidhar Jagdishan's term concludes on October 26, and the regulator wants to avoid an interim arrangement that could send negative signals to investors.
