Puri too was a Charted Accountant by profession who studied commerce from Panjab University. All rights reserved. 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. As a result, he completed his masters degree in Economics of Money, Banking, and Finance. MUMBAI: Sashidhar Jagdishan, chief financial officer of HDFC Bank, is tipped to be elevated as executive director after deputy managing director Paresh 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. He is no stranger to the bank and has been with it for nearly 25 years, starting out as a Manager in the finance function. 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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. Get live Share Market updates and latest India News and business news on Financial Express. Experienced in leading large teams to deliver mandated results with in the timelines by managing proper Quality . Heres what to do in your income tax returns, All you need to know about your dormant & inactive savings account, LV Prabhakar appointed as MD of Canara Bank, Copyright 2023 The Indian Express [P] Ltd. All Rights Reserved, shashidhar jagdishan as hdfc bank ceo to ensure continuity stability, MPC minutes show RBI not wavering from inflation target, How to prevent five common fintech security mistakes, Top 5 best-selling Royal Enfield motorcycles in January 2023, Meta verified: What Musk has to say about Zuckerberg copying Twitters blue tick plan, Stocks struggle to make headway as rate rises loom, Zomato junks Instant; launches Everyday for home-styled food, Nifty, Bank Nifty outlook: Indices to remain volatile on monthly F&O expiry; check support, resistance, PM Modi chairs PRAGATI meet, reviews 9 key infra projects worth over Rs 41,500 cr! 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. Deadline 15-Mar-2023. The applicants must have passed the previous qualifying examination with at least 55% marks. CNBC-TV18 is awaiting HDFC Banks response to this story. JLP offers the best standardized test-prep and customized K-12 tutoring throughout Miami-Dade and WebOpen HDFC Bank savings account from your home & get insurance cover up to Rs.1.18 Cr*. Download Financial Express App for latest business news. Includes DocuBay and TimesPrime Membership. 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. 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. Reproduction of news articles, photos, videos or any other content in whole or in part in any form "He has played a critical role in supporting the growth trajectory of the bank. 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. Even with a lockdown in place, people still need money and often leave home to get it. 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. PLAN, Access the exclusive Economic Times stories, Editorial and Expert opinion, 90 Days Prime access worth Rs999 unlocked for you, Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors, Stock analysis. Often refered to as Sashi, he joined the Bank in the year 1996 as a Manager in the Finance function and later became Business Head- Finance in 1999. HDFC 2020-21 . 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. Biography of Sashidhar Jagdishan. WebThe Reserve Bank of India (RBI) on August 4 cleared the name of Sashidhar Jagdishan as the next chief executive officer of HDFC Bank, according to a senior RBI executive who CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. There is no information available about his wife and children. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. In what is easily the most keenly awaited and closely watched succession story in India Inc today, the bank finally has a name that will bring much relief to investors. Recurring Deposit Calculator. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. Puri's successor Jagdishan was among the top two internal candidates for the top job at HDFC Bank. It is now for the Reserve Bank of India to decide, he had said. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. 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. Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice. Dont miss out on ET Prime stories! Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Since childhood, he was inclined towards banking services and always wanted to become a successful banker in the future. The Reserve Bank 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. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? What is the debate around it? Eligibility. HDFC Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. Invest as low as 10,000 and earn better returns than FD, Find safe & high-yielding bonds for your buck. 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. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Sashidhar Jagdishan joined the HDFC bank in 1996, after the completion of his masters degree. Since then, he has played a pivotal role in supporting the banks growth trajectory and helping the organisation achieve its strategic objectives over the years. PLAN. his date of taking charge, i.e. 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. Copyright 2023, THG PUBLISHING PVT LTD. or its affiliated companies. Jagdishan is currently Group Head and Change Agent, HDFC Bank. Your email address will not be published. Always invest lots of time & energy in developing Unlock your 30 days free access to ETPrime now. This will alert our moderators to take action. Days Trial My successor was always in place, at least in my mind. It was established in 1994. Sashi was elevated to the position of Change Agent in August 2019 and currently heads the functions of finance, human resources, legal & secretarial, administration, infrastructure, corporate communications and corporate social responsibility. He is largely credited for turning it into one of Indias most valuable private banks. 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. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. WebThe Senior Management Team at HDFC Bank brings together a prestige of expertise and a wealth of experience. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. On December 3, in an unprecedented move the bank was barred from issuing new credit cards and launching any new digital products after multiple issues linked to digital banking, cards and payments on the bank's platform in the last two years. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. It is now for RBI to decide, he said. Register now. Counting begins, Meghalaya Election Result 2023 Live Updates: Will Conrad Sangma prove exit polls wrong? He has black color hair and also has sparkling black color eyes. Aditya Puri who has been associated with the private sector lender since it started operations back in 1994 is set to retire in October this year. 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. Can Northeast elections alter the battle for Delhi in 2024? 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 markets have also welcomed his appointment with the stock up 5% on the back of this development. Driven by an experienced board and visionary managing director, Last year, HDFC Bank had constituted a six-member search committee to replace Puri. He has played a critical role in supporting the growth trajectory of the bank, it further said. The soon to-be-head of HDFC Bank was appointed as Chief Financial Officer in the year 2008. Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. You could make payments using just the mobile number of a beneficiary. Loans On Credit Card EMI Calculator. 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. 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 Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. Edited By jyoti choudhary, Updated: 25 Jul, 2021 05:36 PM. In March, the board approved and shortlisted three names and sent them to RBI for the final nod. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. Your Reason has been Reported to the admin. Linked companies : HDFC Bank Limited. Trekking is my other passion. RBI sent us the letter with Sashidhar Jagdishans name approved for the CEO post late last night, confirmed an insider to CNBC-TV18. 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. "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. WebCar Loan EMI Calculator. Sashidhar Jagdishan has experience of over 29 years and he played a vital role in supporting the growth of the HDFC bank. WebHDFC bank is a branch of HDFC. S&P has said, and we quote, Overall, we believe HDFC Banks individual creditworthiness is significantly stronger than the average of the Indian Banking Sector, reflected in its SACP of BBB+. Aditya Puri hangs up his much-decorated boots this October, bringing the curtains down on a long, glittering stint that saw him become the longest-serving CEO of any private bank in India. By 2019, there were over 5000 branches in 2000 cities. Sashidhar Jagdishan 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. 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. Age : 57. A tale of two theories, This website follows the DNPAs code of conduct. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. Weve done our very best to make these tough times a little easier for you. The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. Music will become the filler, he adds. 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. Debit Cards Calculator. My successor was always there, at least in my mind. HDFC Ltd Chairman Deepak Parekh will step aside, after having led India's mortgage-lending pioneer for more than four decades, once the proposed merger between the home-financier and HDFC Bank is consummated. The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. 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? Fixed Deposit Calculator. 12 were here. Sashi, as Sashidhar Jagdishan is popularly called, has emerged as the clear front-runner, with Puri dropping several hints about his role in bringing about the digital transformation in the bank to give it an edge above its peers. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. 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. Copyright e-Eighteen.com Ltd. All rights reserved. Two Wheeler EMI Calculator. For reprint rights: Adani Enterprises stock up 31% in 2 days. WebHowever, for this one will have to wait till the merger of HDFC Bank and HDFC. Sashidhar Jagdishan, the current chief executive of HDFC Bank, would continue to lead the merged entity. Sashi joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years. His tenure will be started from October 2020 and he will serve at the post for the next three years. Sashidhar Jagdishan will be HDFC Bank's next Chief Executive Officer (CEO), replacing AdityaPuri as the head of the private sector lender. 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. 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