Sashidhar Jagdishan will be the new CEO of HDFC Bank to replace the private lender’s long-serving leader Aditya Puri, property knowledgeable Business Standard.

Jagdishan, 55 and group head and change agent at the Bank, will take over when Puri retires in October. Jagdishan was one in every of three candidates shortlisted for approval throughout the Reserve Bank of India. Jagdishan’s name was licensed closing night time time and HDFC Bank will make formal announcement temporarily, property discussed.

He joined the Bank throughout the 1996 and heads finance, human property, and other departments. He is a chartered accountant and holds a Master’s degree in Economics of money, banking and finance.

Kaizad Bharucha, head of HDFC’s wholesale banking division, and Sunil Garg, of Citibank, were quite a few the other candidates in race for the post.

Puri has been at the helm at HDFC Bank since September 1994, making him the longest-serving head of any non-public monetary establishment throughout the country.

Puri had now not too way back assuaged shareholder concerns at his closing annual not unusual meeting for the reason that MD and CEO, pronouncing succession has been taken care of, news corporate PTI reported.

“He (the successor) has been with us for 25 years my successor was always in place, at least in my mind,” Puri knowledgeable shareholders at the lender’s virtual AGM.

Puri assuaged concerns on training and business working out, assuring the shareholders that the candidate has “learnt very well”.

Bloomberg New reported Jagdishan will have to mildew his non-public keep an eye on team of workers after some veterans now not too way back left the monetary establishment, along with car lending head Ashok Khanna. The RBI has asked HDFC Bank to supply details of an interior investigation into allegations of mistaken lending at that business.

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