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HDFC Bank Appoints Anup Bagchi as New MD & CEO, Takes Charge October 27
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Storyboard•02-10-2026, 09:12
HDFC Bank Appoints Anup Bagchi as New MD & CEO, Takes Charge October 27
- •HDFC Bank has appointed Anup Bagchi as its new Managing Director and Chief Executive Officer, effective October 27, 2026, for a three-year term.
- •Bagchi will succeed Sashidhar Jagdishan, whose current term ends on October 26, after he decided not to seek reappointment.
- •The Reserve Bank of India (RBI) approved Bagchi’s appointment and remuneration under Section 35B of the Banking Regulation Act, 1949.
- •Bagchi brings over three decades of experience across banking, capital markets, wealth management, and insurance, having previously served as Executive Director at ICICI Bank and MD & CEO of ICICI Prudential Life Insurance.
- •His appointment follows a period of scrutiny around governance at HDFC Bank, though an external review cleared the bank of concerns raised by a former chairman.
Key Questions Answered
HDFC Bank has appointed Anup Bagchi as its new Managing Director and Chief Executive Officer for a three-year term starting on October 27, 2026, following approval from the Reserve Bank of India.
Anup Bagchi succeeds Sashidhar Jagdishan, whose current term concludes on October 26 after he decided not to seek reappointment.
Bagchi brings over three decades of financial experience spanning banking, capital markets, wealth management, and insurance. He has held significant roles within the ICICI Group since 1992, including serving as Executive Director at ICICI Bank and most recently as MD and CEO of ICICI Prudential Life Insurance since June 2023.
