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HDFC Bank ADRs Surge 4% as RBI Approves Anup Bagchi as New MD & CEO
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Moneycontrol•01-10-2026, 19:02
HDFC Bank ADRs Surge 4% as RBI Approves Anup Bagchi as New MD & CEO
- •HDFC Bank's American Depository Receipts (ADRs) jumped over four percent following the Reserve Bank of India's approval of Anup Bagchi as the new MD and CEO.
- •Bagchi will assume the role on October 27, 2026, succeeding Sashidhar Jagdishan, whose term ends on October 26, 2026.
- •His three-year term as MD & CEO will run through October 26, 2029, pending shareholder approval.
- •Bagchi brings over 30 years of experience from the ICICI Group, covering retail, MSME, corporate banking, treasury, credit policy, and data analytics.
- •He previously served as Executive Director at ICICI Bank, MD & CEO at ICICI Securities, and has led ICICI Prudential Life since 2023.
Key Questions Answered
Anup Bagchi will take charge as the new Managing Director and CEO of HDFC Bank on October 27, 2026, following the conclusion of Sashidhar Jagdishan's term.
Anup Bagchi will serve a three-year term as Managing Director and CEO through October 26, 2029, subject to shareholder approval.
Anup Bagchi has over 30 years of experience with the ICICI Group, where he served in roles such as Executive Director at ICICI Bank, MD & CEO at ICICI Securities, and head of ICICI Prudential Life.
