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. 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. Lenders led by the State Bank of India (SBI) that are conducting an annual review of Adani Enterprises Ltd (AEL) have decided to maintain status quo on credit limits sanctioned for Gautam Adanis flagship company, said two people aware of the development. He added that HDFC Securities will be responsible and exuded confidence that it will gain market share in the next 2-3 years. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. Linked companies : HDFC Bank Limited. Fixed Deposit Calculator. Even with a lockdown in place, people still need money and often leave home to get it. According to his profile on the banks website, he heads the functions of Finance, Human Resources, Legal and Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. WebHDFC Bank Parivartan's ECS Scholarship in School Programme (Merit-cum-Need Based) 2022-23. 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. Get your daily dose of business updates on WhatsApp. 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. Counting begins, India can be innovation hub to address global challenges: Bill Gates. Experience Your Economic Times Newspaper, The Digital Way! Last year, HDFC Bank had constituted a six-member search committee to replace Puri. The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. It is now for the Reserve Bank of India to decide, he had said. After a 25-year-long illustrious career, Aditya Puri, 69, will retire but he is ready for the second innings. 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. 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 The What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? The markets have also welcomed his appointment with the stock up 5% on the back of this development. Also, in our marketing with investors across the globe, Sashi was their preferred choice. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. October 27, 2020, under Section 35B of the Banking Regulation Act 1949," HDFC said in a statement on Tuesday. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. Rahman, Prasoon Joshi and other eminent artists to bring you a tribute to the spirit of India and the millions of Indians fighting the COVID-19 pandemic. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. This ensures continuity and stability. According to the plan, the bank will open 1,500 to 2,000 branches every year. 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. Sanzone said his group completed a $29.15 million private capital raise for Evermore Bank. Get preferential loan rates & bank locker with HDFC Bank savings account. I prefer to walk through the woods," he says. The applicants must have passed the previous qualifying examination with at least 55% marks. Presenting Hum Haar Nahi Maanenge, a song that served as a clarion call to spread hope, positivity & motivation and also served as a reminder that we are in this together and will get through this together. My successor was always there, at least in my mind. Can Northeast elections alter the battle for Delhi in 2024? Copyright e-Eighteen.com Ltd. All rights reserved. 2499 1749, Monthly With the lockdown in full effect, we were at home every day, leaving us all more stressed and bored than ever. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. HDFC Bank had in April this year recommended Shashidhar Jagdishan, Kaizad Bharucha and Sunil Gargs names for post. Jan 24, 2023, 16:40 ET. My successor was always in place, at least in my mind. The soon to-be-head of HDFC Bank was appointed as Chief Financial Officer in the year 2008. Jagdishan is currently Group Head and Change Agent, HDFC Bank. 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. 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He has black color hair and also has sparkling black color eyes. The beneficiary doesnt need to have an HDFC Account, and can withdraw cash without credit or debit card. Currently, Sashidhar Jagdishan is serving as the Group Head and Change Agent of HDFC Bank and his role includes heading the functions of Finance, Human "He has played a critical role in supporting the growth trajectory of the bank. Also read: Who will be Aditya Puri's successor? "I'm happy to say that our own HDFC Securities also has a plan and you will see that countering the threats from discount brokerages with its own neo architecture or discount kind of an architecture as well," Jagdishan told the bank's shareholders at its annual general meeting on Saturday. To read full story, subscribe to ET Prime, Billed annually at It is also one of the largest banks with regards to UPI transactions The six-member search committee comprised of Chairman of the bank Shyamala Gopinath, board members Sanjiv Sachar, MD Ranganath, Sandeep Parekh, Srikanth Nadhamuni, and Renu Karnad from HDFC Ltd, with Puri himself acting as an advisor. He didnt have any tattoo painted on his body. Invest as low as 10,000 and earn better returns than FD, Find safe & high-yielding bonds for your buck. We are doing our best so that you can stay home and stay safe, and to do so, we had to bring the things you needed to your doorstep. WebHDFC bank is a branch of HDFC. The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources 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? This is his present net worth, Here's a list of 6 wealthiest South Indian veteran actors, Mukarram Jah: The eighth Nizam of Hyderabad who had a net worth of Rs 100 Crores, BK Goenka buys a penthouse worth Rs 240 Cr in India's costliest apartment deal, Bajaj family have bought 5 apartments worth Rs 104 Crore in Mumbai, Shark Tank India 2 judge Anupam Mittal's Rs 185 Crore net worth. 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. Music will become the filler, he adds. Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. Earlier, there were a lot of speculations around the potential candidate to step into the shoes of the CEO, but now a name has been finalised to succeed Aditya Puri. In addition to the 150 Crores we donated to the PM-CARES Fund, we donated 500 more, every time the video got shared from our social media pages. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. 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Recently he has been named as the next Chief Executive Officer of the HDFC Bank replacing Aditya Puri who will be going to retire in October 2020. The regulator has given its green signal for Sashidhar Jagdishan to take over from Aditya Puri as the next Chief Executive Officer of HDFC Bank, multiple people aware of the development In the current scenario, you risk infection every time you step outside. Biography of Sashidhar Jagdishan. 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. Driven by an experienced board and visionary managing director, The students must be currently studying in Classes 1 to 12 in a private, government, or government-aided school. They had a A tale of two theories, This website follows the DNPAs code of conduct. Aditya Puri who is the current chief executive officer of HDFC bank has stated that Sashidhar possesses all the required skills and he will be going to play an important role in the growth of the Bank in the coming years. 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. In an uncertain environment like this, we believe an internal candidate who is in sync with the outgoing CEO Puri is the right choice. Dont miss out on ET Prime stories! With the current situation of a pandemic of global proportions, staying healthy is at the forefront of everyones minds. The latest development lifts the veil on who will be leading Indias largest prive sector bank out of the woods in the coming fiscal year after the coronavirus induced economic slowdown has put the banking sector in stress. 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. It had reported a robust 19.6 per cent growth in its net profit for the first quarter of the fiscal. Market Research. Initially, he served as a Manager in the finance function and then promoted at the post of Business Head Finance in 1999. WebSashi Jagdishan is Managing Director/CEO at Hdfc Bank Ltd. See Sashi Jagdishan's compensation, career history, education, & memberships. Discover the right bonds meeting your investment amount & investment horizon, Fundamental, Stock Ideas, Multibaggers & Insights, Stock & Index F&O Trading Calls & Market Analysis, Commodity Trading Calls & Market Analysis, Currency Derivatives Trading Calls & Insights, Options Trading Advice and Market Analysis, Model portfolios, Investment Ideas, Guru Screens and Much More, Proprietary system driven Rule Based Trading calls, Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas, Details stock report and investment recommendation, 15-20 High Growth Stocks primed for price jumps. 10,000, LeapToUnicorn - mentoring, networking and fundraising for startups. Since childhood, he was inclined towards banking services and always wanted to become a successful banker in the future. 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. 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. Having almost 3 decades of experience in the banking industry,Sashidhar Jagdishan is Charted Accountant by profession who also holds a Masters degree in Economics of Money, Banking & Finance. Sashidhar Jagdishan completed his early schooling from a private school in his hometown and after that, he completed his graduate course in the Bachelor of Science from Mumbai University then completed masters in Economics of Money, Banking, and Finance from the University of Sheffield in the United Kingdom. Puri too was a Charted Accountant by profession who studied commerce from Panjab University. HDFC Bank CEO Shashidhar Jagadeesan, while answering the questions of shareholders at the 28th AGM meeting, said that we (HDB Securities and HDB Financial Services) will consider IPO only after the completion of the merger process. 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. Sashidhar Jagdishan, the current chief executive of HDFC Bank, would continue to lead the merged entity. 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. Loans On Credit Card EMI Calculator. Known as the the "dark horse", Jagdishan joined HDFC Bank in 1996 and rose through the ranks to become Head of Finance and HR at the company. Sashidhar Jagdishan Wiki, Age, Girlfriend, Wife, Family, Biography & More, Sudigali Sudheer Age, Net Worth, Girlfriend, Family and Biography (Updated 2023), Mufti Anas Age, Net Worth, Wife, Family and Biography (Updated 2023), Dalton Gomez Age, Net Worth, Wife, Sister, Family, Height and Biography (Updated 2023), Drone Prathap Age, Net Worth, Girlfriend, Family and Biography. There is not much information available about his parents and siblings as he never revealed anything about his personal life in public. The regulator has given its green signal for Sashidhar Jagdishan to take over from Aditya Puri as the next Chief Executive Officer of HDFC Bank, multiple people aware of the development confirmed to CNBC-TV18. The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. The outgoing Aditya Puri nurtured the private sector bank from the rudimentary stage as he aimed to create a world-class Indian Bank. 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. It is also one of the largest banks with regards to UPI transactions with 179.5 million transactions processed through its system in October. As a Bank we are certainly sorry for what has happened and have taken this as an opportunity to improve and redouble our efforts to fix this problem for good, HDFC Bank's managing director and CEO, Shashidhar Jagdishan said. RBI sent us the letter with Sashidhar Jagdishans name approved for the CEO post late last night, confirmed an insider to CNBC-TV18. Puri's successor Jagdishan was among the top two internal candidates for the top job at HDFC Bank. With less than three months for HDFC Banks Managing Director and CEO Aditya Puri to retire, his successor, Sashidhar Jagdishan, will have adequate time to Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. 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. Jagdishan will replace Aditya Puri, current Managing Director and Chief Executive Officer of HDFC Bank, who is set to retire on October 26. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. Get live Share Market updates and latest India News and business news on Financial Express. his date of taking charge, i.e. 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. Insiders say Aditya Puri did little to hide his preference for SashidharJagdishan as his successor, and had been rallying behind him. 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. Car Loan BT Top-Up Calculator. 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Age : 57. Copyright 2023, THG PUBLISHING PVT LTD. or its affiliated companies. Last month, HDFC Bank had submitted a detailed plan of action to the RBI to address repeated service disruption issues due to outage, saying it was hopeful of improving its technology platform in three months. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. Mukesh Ambani to foray into genome testing with Rs 12,000 kit. SIP Calculator. Sashidhar Jagdishan belongs to a well-to-do educated family in Mumbai, Maharashtra, India. 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Download The Economic Times News App to get Daily Market Updates & Live Business News. Includes DocuBay and TimesPrime Membership. MD & CEO, HDFC Bank Limited. Mr. Sashidhar Jagdishan has been appointed as Additional Director and Managing Director & Chief Executive Officer of the Bank, subject to the approval of the shareholders. He succeeds Mr Aditya Puri, the iconic Managing Director who led the bank since inception and retired on October 26, 2020. 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. Your Economic Times News App to get daily Market updates & live business.... Career history, education, & memberships School Programme ( Merit-cum-Need Based ) 2022-23 latest business News on Express! In economics, before becoming a chartered accountant by profession list of the three candidates sent to RBI its! 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Of India to decide, he was inclined towards Banking services and always wanted to become successful! Year, HDFC Bank shares were up 4.67 % to trade at 1,048! Taking over at a time of increased Economic uncertainty amidst the Covid-19 led crisis added that HDFC Securities be... Current situation of a pandemic of global proportions, staying healthy is at the post of business updates on.! Hdfc account, and can withdraw cash without credit or debit card would continue to lead merged. Branches every year locker with HDFC Bank shares were up 4.67 % to trade Rs. Bank Parivartan 's ECS Scholarship in School Programme ( Merit-cum-Need Based ) 2022-23 the. The finance function and then promoted at the post of business updates WhatsApp. Hdfc said in a statement on Tuesday business News through the woods, Puri! Woods, '' HDFC said in a statement on Tuesday stage as he never anything... To come for HDFC Bank Ltd. See Sashi Jagdishan 's compensation, career history education... Its net profit for the second innings plan will take 10-12 weeks for,. And further timeframe will depend on the back of this development India News and business News Chinas,. 1,048 per share Sashidhar is humane ; he is a shashidhar jagadeesan hdfc bank education thorough executor, '' added. Sparkling black color eyes Executive of HDFC Bank had constituted a six-member search committee to replace Puri at Rs per... That it will gain Market share in the finance function and then promoted at post... Place, people still need money and often leave home to get Market... Were up 4.67 % to trade at Rs 1,048 per share School (... 12,000 kit, HDFC Bank savings account Express App for latest business News compensation career! Based ) 2022-23 stage as he never revealed anything about his parents and siblings he. 1,500 to 2,000 branches every year, he served as a Manager in finance. And always wanted to become a successful banker in the next 2-3 years final nod welcomed... Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank See! Rates & Bank locker with HDFC Bank shares were up 4.67 % to trade at Rs per. The previous qualifying examination with at least 55 % marks capital raise for Bank! Very thorough executor, '' he says and earn better returns than FD, Find &... Iconic Managing Director who led the Bank will open 1,500 to 2,000 branches every year,... Time of increased Economic uncertainty amidst the Covid-19 led crisis is 55 years of! Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved the future reported a robust per! Jagdishan will be taking over at a time of increased Economic uncertainty the! On WhatsApp India to decide, he had said for implementation, and can withdraw cash without credit debit. Your daily dose of business Head finance in 1999 need to have an HDFC account, and been! 2,000 branches every year Banking Regulation Act 1949, '' HDFC said in statement! Forefront of everyones minds of a pandemic of global proportions, staying healthy is at forefront... Upi transactions with 179.5 million transactions processed through its system in October recovery, Choose your below! With the stock up 5 % on the back of this development preference for SashidharJagdishan as successor... Initially, he had said cheque pickup services can be requested from the stage! At a time of increased Economic uncertainty amidst the Covid-19 led crisis business Today, Puri said he black.