Shashidhar Jagadishan will remain the CEO of HDFC Bank, RBI extended his tenure by 3 years - Newztezz Online

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Wednesday, September 20, 2023

Shashidhar Jagadishan will remain the CEO of HDFC Bank, RBI extended his tenure by 3 years

RBI has extended the tenure of CEO-MD Shashidhar Jagadeesan of HDFC, the country's largest private sector bank, for the next 3 years. Banking regulator RBI has extended his tenure for three years and has again approved his re-appointment to the post of CEO and MD.

Shashidhar Jagadishan, CEO and MD of HDFC Bank, the country's largest private sector bank, will remain on this post for the next three years. RBI has extended his tenure for next 3 years. Banking regulator RBI has extended his tenure for three years and has again approved his re-appointment to the post of CEO and MD. Let us tell you, his tenure was going to end on 26 October 2023, but now that RBI has approved his re-appointment, he will be able to work for HDFC Bank for 3 years.

Was appointed for CEO in 2020

Shashidhar Jagadishan was appointed to the post of Chief Executive Officer and Managing Director of the bank in the year 2020. He was made the CEO and MD of the bank in place of Aditya Puri. His tenure was ending next month on 26th October. Which has now been extended by RBI for 3 years. According to the annual report of HDFC Bank, the annual package of Shashidhar Jagadishan in 2022-23 was Rs 10.5 crore. Whereas in 2021-22, his annual package was Rs 6.51 crore.

The bank gave information

HDFC Bank has given this information to the stock exchanges in its regulatory filing. The bank said that following the recommendation of the board of HDFC Bank, approval was sought from RBI for Shashidhar Jagadishan to continue on the post of MD-CEO of the bank. RBI informed the bank on September 18, 2023 that it has approved the reappointment of Shashidhar Jagadishan to the post of MD-CEO for the next three years. Shashidhar Jagadishan will remain the MD-CEO of the bank from October 27, 2023 to October 26, 2026.

Recently, RBI had also approved the re-appointment of ICICI Bank MD-CEO Sandeep Bakshi to the post of MD-CEO and now the MD-CEO of HDFC Bank, the country's largest private sector bank, has also got an extension.

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