Stories
HDFC Bank's Leadership Evolution: From Puri to Bagchi - A Timeline of Transformation
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CNBC TV18•01-10-2026, 19:10
HDFC Bank's Leadership Evolution: From Puri to Bagchi - A Timeline of Transformation
- •Aditya Puri stepped down as MD & CEO in October 2020, succeeded by Sashidhar Jagdishan.
- •HDFC Bank faced RBI restrictions in December 2020 due to digital service outages, which were gradually lifted by March 2022.
- •The landmark merger with HDFC Ltd became effective in July 2023, significantly expanding the bank's balance sheet.
- •Questions around governance arose in March 2026 with Chairman Atanu Chakraborty's resignation, though RBI affirmed confidence in the bank's governance.
- •Anup Bagchi was appointed as the new MD & CEO, taking charge from October 27, 2026, bringing extensive banking and financial services experience.
Key Questions Answered
HDFC Bank appointed Anup Bagchi as its next Managing Director and CEO following approval from the Reserve Bank of India, succeeding Sashidhar Jagdishan for a three-year term starting October 27, 2026.
Sashidhar Jagdishan decided not to seek reappointment as MD and CEO despite board persuasion, and he will retire from HDFC Bank when his current term ends on October 26, 2026.
Anup Bagchi brings over three decades of financial services experience, having joined the ICICI Group in 1992, served as an Executive Director at ICICI Bank, and held the role of MD and CEO at ICICI Prudential Life Insurance since 2023.
