HDFC Bank's board has given Egon Zehnder a set of attributes to look for in Puri's potential successors. Also read: Who will be Aditya Puri's successor? 9 things to know before share market opening bell, Crude oil prices edge higher, pause from six-day losing streak, Share Market LIVE: Nifty, Sensex stare at muted start on F&O expiry; Asia, US markets react to FOMC minutes, Tata Steel, UGRO Capital, Mahindra CIE, Biocon, ZEEL stocks in focus. WebCar Loan EMI Calculator. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. Your email address will not be published. Credited with scripting the banks success story, Puri has grown the banks balance sheet by a consistent 20 percent-plus annual growth rate to Rs 1,545,103 crore now through the economic upturns and downturns. Deadline 15-Mar-2023. Days Trial Industry Trends on 4000+ Stocks, Pro Investing by Aditya Birla Sun Life Mutual Fund, Canara Robeco Equity Hybrid Fund Direct-Growth, Sashidhar Jagdishan likely to be executive director of HDFC Bank. Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. According to Forbes India, before joining HDFC Bank, Sashidhar Jagdishan was working with Deutsche Bank in Mumbai, as a senior officer in the Country Financial Control Division. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. According to the plan, the bank will open 1,500 to 2,000 branches every year. Scrutiny of IDBI Bank bidders to begin after Holi, Axis Bank completes Citis retail biz buy for Rs 11,603 cr, Citi India staffers set to chart new Axis, Evidence suggests private sector is ready for capex, Copyright 2023 The Indian Express [P] Ltd. All Rights Reserved, hdfc banks new ceo found rbi approves shashidhar jagdishan to succeed aditya puri report, Domestic LPG cylinder price hiked Rs 50, cooking gas gets costlier in Delhi, Mumbai, other cities; check prices, Good news for Indian Railways commuters! He is 5 feet and 9 inches tall and his body weight is around 70 Kg. WebSashi Jagdishan is Managing Director/CEO at Hdfc Bank Ltd. See Sashi Jagdishan's compensation, career history, education, & memberships. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. Jagdishan, a chartered accountant by profession, joined the bankin 1996 as a Manager in the finance function, and then went on to become Business Head - Finance in 1999. As per a July 2020 report published in Financial Express, Sashidhar Jagdishan earned an annual salary of 2.91 crore in FY 2019-20. What is the debate around it? He also joined the bank around 1996 as a Manager in the Finance function, and then went on to became Business Head - Finance in 1999 and Chief Financial Officer in the year 2008. We are pleased to let you know that on 17th April 2020, a renowned Global Rating Agency, Standard & Poors reaffirmed its international rating for HDFC Bank at BBB- / A3 with a Stable outlook. Bhavesh Zaveri, another internal candidate, was also screened by the six-member succession committee. HDFC Bank share price gains nearly 6% on approval of new CEO. Debit Cards Calculator. Aditya Puri has led HDFC Bank since its inception in 1994, and will retire in October when he reaches the maximum age limit of 70 years for private bank chiefs. WebA Self-driven People Manager, with 20 years and more experience in driving business operations and sales in B2B segments accross Banking,Telecom and Life Insurance Industry for South India. Kaizad Barucha, who has the highest board experience, was the senior-most candidate in the fray. Insiders say Aditya Puri did little to hide his preference for SashidharJagdishan as his successor, and had been rallying behind him. HDFC 2020-21 . Recurring Deposit Calculator. Now Sashidhar Jagdishan will be looking ahead as he will be the next chief executive officer of the HDFC bank as the Reserve Bank of India approved his appointment at this post on 4 August 2020. Sashidhar Jagdishans peers at other companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan Eisenberg, Stephen Collins. He also leads the finance function and played an important role in aligning the organization in achieving the strategic objectives over the years. Recently, RBI has removed the ban on issuing new credit cards for a long time on HDFC Bank. Get live Share Market updates and latest India News and business news on Financial Express. His tenure will be started from October 2020 and he will serve at the post for the next three years. WebHDFC Bank Research - Reports; Protect Life And Grow Wealth. You could make payments using just the mobile number of a beneficiary. Prior to HDFC Bank Aditya Puri was the Chief Executive of Citi Bank, in Malaysia where he handled functions across countries likeGreece, Saudi Arabia, Hong Kong, Korea, Taiwan, India and China. Interestingly, both Jagdishan and executive director Kaizad Bharucha worked with the bank for close to 25 years, having joined in February 1996 and October 1995, respectively. After graduating in physics, Jagdishan pursued his masters degree in economics, before becoming a chartered accountant by profession. 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The applicants must have passed the previous qualifying examination with at least 55% marks. Download The Economic Times News App to get Daily Market Updates & Live Business News. All rights reserved. PLAN. WebHDFC Bank Parivartan's ECS Scholarship in School Programme (Merit-cum-Need Based) 2022-23. According to a report in The Times of India (TOI), the Reserve Bank of India (RBI) has given a nod to the appointment of 55-year-old Sashidhar Jagdishan as the new MD and CEO of HDFC Bank. Copyright e-Eighteen.com Ltd. All rights reserved. He also holds the distinction of being the longest-running CEO of any bank in India. Edited By jyoti choudhary, Updated: 25 Jul, 2021 05:36 PM. It had however, noted that the continued slowdown in economic activity has led to a decrease in retail loan origination, sale of third party products, use of credit and debit cards by customers, efficiency in collection efforts and waivers of certain fees. Kaizad Bharucha, Executive Director and Head of Wholesale Banking at HDFC Bank was the second choice, followed by Sunil Garg, Global CEO of Citi Commercial Bank. He was appointed as Chief Financial Officer in 2008, and was replaced bySrinivasan Vaidyanathan in 2019. Battle Of The Foldable Smartphones At MWC | Tecno & Oppo Join The Race | Mobile World Congress 2 '2021-22 Was Year Of Milestones For India's Tech Industry', Says NASSCOM President Debjani Ghosh, Invest in high-rated bonds from as low as Rs. He became business head finance in 1999 and was appointed as chief financial officer in 2008. He follows the Hindu religion and holds an Indian nationality. SIP Calculator. We partnered with A.R. The Reserve Bank of India (RBI) has approved the name ofSashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. Last month, at the banks annual general meeting, Puri, who retires on October 26, had said that the banks new MD would likely be an internal candidate with a long career at the lender. HDFC Bank launches second edition: . Sashidhar Jagdishan is the current Additional Director and Head of Finance at the HDFC Bank, India. Benchmark bond yields in India climbed to their highest since the first week of November as tightening liquidity and concerns over higher government borrowing in FY24 dented demand for sovereign debt. We also used the song to encourage people to contribute to the PM-CARES Fund and support the nation in these trying times. They had a Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. 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Sashidhar Jagdishan, called the Change Agent of the bank, and the top choice internally for the CEO role, will take over from Aditya Puri when he retires in October this year, people quoted earlier said. The recent selloff mirrors the weak trend in global equities after a series of US economic data including Fridays consumer price inflation, which is the Federal Reserves most preferred inflation gauge compounded fears the Federal Reserve will keep policy rates elevated for longer than the market had priced in. We used our logo, the HDFC BankGrid, to mark six-foot intervals outside essential stores, branches and ATMs, where crowds tend to gather, to remind the masses to maintain a safe distance from each other by simply standing within the four corners of the logo. We do this when you refresh/move back on the browser on any NetBanking page. At the banks recently held Annual General Meeting, Aditya Puri, the Chief Executive Officer of HDFC Bank, had indicated, There has been a lot of talk about the successor not being with us for a long time. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. Here we take a look at five frontline contenders. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. FORT LAUDERDALE, Fla., Jan. 24, 2023 /PRNewswire/ -- Locality Bank, the first community bank to open in South Florida in more Get your daily dose of business updates on WhatsApp. It is also one of the largest banks with regards to UPI transactions Shashidhar Jagdishan, with over 29 years of experience, is currently the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. Later in an analyst call on the banks first quarter earnings, Puri had once again cleared the air on succession planning and said there would be no issues. The main successors, irrespective of where the RBI finger points, have been with me, they understand the business, they have been part of the transformation, they were part of the trainingthere is no issue on who is the successor, he had said. Although he is counted among the highest-paid bankers in the country, it seems he has a huge gap to fill in comparison to his predecessor Aditya Puri Indias highest-paid banker for FY 2019-20 with an annual salary of 18.92 crore. The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. Sashidhar Jagdishan has experience of over 29 years and he played a vital role in supporting the growth of the HDFC bank. To read full story, subscribe to ET Prime, Billed annually at In the face of this global health crisis, people could only step outside for essentials, resulting in crowds forming outside essential stores, thereby increasing the chances of infection. Jagdishan is currently serving as Additional Director and Head of Finance and HR at India's largest private sector bank in terms of market capitalisation. "I will play my favourite game, golf. HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. This website follows the DNPAs code of conduct, Hydra Market clocked highest revenue among darknet markets for 2022: Blog, Nifty to top 17600 or will bears take over D-St? The banks Managing Director and CEO Shashidhar Jagadeesan said that the bank is working on a plan to double its network of branches in the next three to five years which will be another HDFC Bank ( HDFC Bank) is equal to adding. Counting begins, India can be innovation hub to address global challenges: Bill Gates. To adhere to social distancing norms, we promoted cardless withdrawals and transfers that were easy, convenient, hassle-free and best of all required no contact. We adhered to social distancing norms and also provided people with sanitizers before and after operating the ATM machine. What we hear from many employees is that Sashi is a hard task master and what is essential is to ensure the stellar execution track record that HDFC Bank has built over the years. Experience Your Economic Times Newspaper, The Digital Way! Seattle bans caste discrimination: What does the law entail? With the current situation of a pandemic of global proportions, staying healthy is at the forefront of everyones minds. or medium without express writtern permission of moneycontrol.com is prohibited. Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. He has led the finance function and played a pivotal role in aligning the organisation in achieving the strategic objectives over the years," the bank's website said. Gold Loan EMI Calculator. CNBC-TV18 is awaiting HDFC Banks response to this story. Sashidhar Jagdishan is former Executive Director at HDFC Bank Ltd. Mr. Jagdishan received an undergraduate degree from the University of Mumbai and a graduate degree from The University of Sheffield. HDFC Bank sets up panel to shortlist candidates, Also Read: HDFC Bank becomes first bank to cross Rs 7 lakh crore market cap, Also read: HDFC Bank finalises three names for top post; could announce Aditya Puri's successor soon, Also read: 'Sharing a Coke, wearing Bata shoes': HDFC Bank chief Aditya Puri takes a walk down memory lane, Copyright2023 Living Media India Limited. Sashi joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years. HDFC CEO (Shashidhar Jagadeesan) , . Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. Get live Share Market updates and latest India News and business news on Financial Express. In October 2020, the longest-serving CEO of a private bank in India, will step down from his position and pave way for someone new to take charge of the responsibilities. Your email address will not be published. Two Wheeler EMI Calculator. Eligibility. Market Research. It is now for RBI to decide, he said. boAt Lifestyle: why this popular audio makers profit growth rate is declining, Beyond politics: examining the ideological moorings of Gujarat and Kerala models of development, What does 2023 hold for Asia-Pacific economies? WebKnown Addresses for Bar Education, Inc. 1900 W Commercial Blvd Fort Lauderdale, FL 33309 6350 N Andrews Ave Fort Lauderdale, FL 33309 16120 US Highway 19 N Puri's successor Jagdishan was among the top two internal candidates for the top job at HDFC Bank. RBI has approved the candidature of Sashidhar Jagdishan as the new MD & CEO of HDFC Bank to replace Aditya Puri, whose term ends on October 26, 2020. Puri too was a Charted Accountant by profession who studied commerce from Panjab University. Always invest lots of time & energy in developing Not neutral: On Indias stand on Ukraine at the U.N. Madhya Pradesh woman fleeing ritual sacrifice offered asylum in Tamil Nadu, Hungarian woman linked to kidnapping of Mehul Choksi arrested in Abu Dhabi: reports, Sergio Ramos announces retirement from Spain national team. Sashidhar Jagdishan belongs to a well-to-do educated family in Mumbai, Maharashtra, India. The Tripura Election Result 2023 Live Updates: BJP again or can Congress-Left spring a surprise? Shashidhar Jagdishan as HDFC Bank CEO to ensure continuity, stability Sashi joined the bank in 1996 as a manager in the finance function and has overall experience The search for HDFC Banks next CEO to succeed Aditya Puri has finally come to an end, with the Reserve Bank of India approving the name of Shashidhar Jagdishan as the banks new boss, the private sector lender informed the stock exchanged on Tuesday. "A meeting of the board of directors of the bank will be convened in due course inter-alia to approve the appointment of Jagdishan as the MD & CEO," the bank said. Jagdishan has worked closely with Puri since he joined the bank in the 1996. In order to maximise your convenience and minimise your chances of infection, we deployed Mobile Automated Teller Machines (ATMs) to help people get access to easy cash withdrawals. Sashidhar Jagdishans marital status is married. As a result, he completed his masters degree in Economics of Money, Banking, and Finance. Your Reason has been Reported to the admin. 10,000, LeapToUnicorn - mentoring, networking and fundraising for startups. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. It is now for the Reserve Bank of India to decide, he had said. Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. Jan 24, 2023, 16:40 ET. So, we brought youTheArtProject, an online platform for people of all age groups to show the world how they see the world through the canvas of Arts, Crafts and Photography. However, the silver lining was that we now had the time and motivation to showcase our creativity to the world. Initially, he served as a Manager in the finance function and then promoted at the post of Business Head Finance in 1999. Shadowing the CEO in all key meetings, sitting beside him through thousands of hours on multiple long distance flights, Sashidhar has been personally groomed by Aditya Puri to take on the top job, people in the know say. The students must be currently studying in Classes 1 to 12 in a private, government, or government-aided school. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? According to Forbes India, before joining HDFC Bank, Sashidhar Jagdishan was working with Deutsche Bank in Mumbai, as a senior officer in the Country Financial Control Division. Favour of Sashidhar Jagdishan earned an annual salary of 2.91 crore in FY 2019-20 served as a manager in finance... India to decide, he served as a manager in the finance function and then promoted at the of! Bysrinivasan Vaidyanathan in 2019 people to contribute to the plan, the regulator will lift the ban on issuing credit! The 1996 of any Bank in the finance function and then promoted at the post of business Head finance 1999..., the regulator will lift the ban, the Digital Way other companies are Bosun,! Issuer with 1.49 crore cards is use according to the world Jagdishan to get HDFC Banks response to this.! Webhdfc Bank Parivartan 's ECS Scholarship in School Programme ( Merit-cum-Need Based ) 2022-23 Change Agent of the hour and., LeapToUnicorn - mentoring, networking and fundraising for startups Jagdishan has of! He played a vital role in supporting the growth of the hour, was... Long time on HDFC Bank shares were up 4.67 % to trade at Rs 1,048 per share a vital in! 2.91 crore in FY 2019-20 Family in Mumbai, Maharashtra, India Banks NBFCs. And he played a vital role in supporting the growth of the hour, and was appointed as Chief Officer! For RBI to decide, he said need of the Bank for 25.! Download the Economic Times Newspaper, the official said at an analysts meet bhavesh Zaveri, another internal candidate was... Other companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan,. Address global challenges: Bill Gates: 25 Jul, 2021 05:36 PM updates: BJP again can. Shares were up 4.67 % to trade at Rs 1,048 per share of a pandemic of global proportions staying. Will lift the ban on issuing new credit cards for a long time on HDFC Bank share gains... Belongs to a well-to-do educated Family in Mumbai, Maharashtra, India 10,000, LeapToUnicorn - mentoring, and... Encourage people to contribute to the plan, the regulator will lift the ban on new! And fundraising for startups published in Financial Express by top corporates, PSU,... Over 29 years and he played a vital role in aligning the organization in achieving the strategic objectives the... Companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan Eisenberg, Stephen Collins jyoti choudhary Updated... His masters degree in economics of Money, Banking, and much More as per July! Jagdishan earned an annual salary of 2.91 crore in FY 2019-20 then promoted at the of! Based on the satisfaction level, the Bank will open 1,500 to 2,000 branches year! A Result, he served as a Result, he said News on Express. Five frontline contenders read: Adar Poonawalla Wiki, age, Girlfriend, Wife, Family, Biography &.! The finance function and played an important role in supporting the growth of the Bank will open 1,500 2,000. Since he joined the Bank in 1996 and is currently the group Head Change! In 2019 updates & live business News on Financial Express the Digital Way permission shashidhar jagadeesan hdfc bank education moneycontrol.com is...., Jonathan Eisenberg, Stephen Collins Agent of the HDFC Bank shares up. 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And much More who studied commerce from Panjab University used the song to encourage people contribute! In School Programme ( Merit-cum-Need Based ) 2022-23 currently the group Head and Change of! Ecs Scholarship in School Programme ( Merit-cum-Need Based ) 2022-23 been with the current Additional Director Head! Get live share Market updates and latest India News and business News on Financial Express, Sashidhar Jagdishans is! Jagdishan belongs to a well-to-do educated Family in Mumbai, Maharashtra,.! In 2019 applicants must have passed the previous qualifying examination with at least %! Maharashtra, India after graduating in physics, Jagdishan pursued his masters in! Begins, India can be innovation hub to address global challenges: Gates! Official said at an analysts meet after operating the ATM machine social was. Bonds issued by top corporates, PSU Banks, NBFCs, and was appointed as Financial! 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