"Sashidhar is humane; he is motivational; he is a very thorough executor," he added. They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. 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. 2-Year Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. It was established in 1994. MUMBAI: Sashidhar Jagdishan, chief financial officer of HDFC Bank, is tipped to be elevated as executive director after deputy managing director Paresh We also used the song to encourage people to contribute to the PM-CARES Fund and support the nation in these trying times. 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Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. 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. Also, in our marketing with investors across the globe, Sashi was their preferred choice. You could make payments using just the mobile number of a beneficiary. Also read:What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? Initially, he served as a Manager in the finance function and then promoted at the post of Business Head Finance in 1999. So, we bring you offers and discounts on medicines, e-consultations, check-ups and more from leading brands like 1MG, Apollo Pharmacy, IndusHealth Plus and Lybrate. Experienced in leading large teams to deliver mandated results with in the timelines by managing proper Quality . Your email address will not be published. He added that HDFC Securities will be responsible and exuded confidence that it will gain market share in the next 2-3 years. HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. 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. 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. Recurring Deposit Calculator. Reproduction of news articles, photos, videos or any other content in whole or in part in any form 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. 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. Can Northeast elections alter the battle for Delhi in 2024? WebSashidhar Jagdishan. Age : 57. 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. He follows the Hindu religion and holds an Indian nationality. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. click here! 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. "He has played a critical role in supporting the growth trajectory of the bank. For security reasons, we have logged you out of HDFC Bank NetBanking. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. 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. Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More, Sarah Michelle Gellar Age, Net Worth, Husband, Family and Biography (Updated 2023), Grace Van Dien Age, Net Worth, Boyfriend, Family and Biography (Updated 2023), Offset Age, Net Worth, Wife, Family and Biography (Updated 2023), Regina Ting Chen Age, Net Worth, Husband, Family and Biography (Updated 2023), Mae Martin Age, Net Worth, Boyfriend, Family and Biography (Updated 2023). 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. 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. 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. "The Reserve Bank of India (RBI) vide its communication dated August 3, 2020, has approved the appointment of Mr. Sashidhar Jagdishan as Managing Director & CEO of the Bank for a period of 3 (three) years w.e.f. WebCar Loan EMI Calculator. Last year, HDFC Bank had constituted a six-member search committee to replace Puri. SIP Calculator. Market Research. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. What is the debate around it? The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. 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. Trekking is my other passion. Even with a lockdown in place, people still need money and often leave home to get it. WebHDFC Bank Parivartan's ECS Scholarship in School Programme (Merit-cum-Need Based) 2022-23. His tenure will be started from October 2020 and he will serve at the post for the next three years. Seattle bans caste discrimination: What does the law entail? Register now. 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WebSashidhar Jagdishan has been with HDFC Bank for 24 years now. his date of taking charge, i.e. To read full story, subscribe to ET Prime, Billed annually at In an uncertain environment like this, we believe an internal candidate who is in sync with the outgoing CEO Puri is the right choice. Download The Economic Times News App to get Daily Market Updates & Live Business News. 12 were here. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. 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. 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. It is now for the Reserve Bank of India to decide, he had said. Fixed Deposit Calculator. My successor was always in place, at least in my mind. A-A+; # Shashidhar Jagadeesan # Salary # ICICI Bank; Related Story . 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. Sashi joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. 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. 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. In the current scenario, you risk infection every time you step outside. HDFC Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. Sashidhar Jagdishans peers at other companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan Eisenberg, Stephen Collins. Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice. For reprint rights: Adani Enterprises stock up 31% in 2 days. 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? He is 5 feet and 9 inches tall and his body weight is around 70 Kg. He also holds the distinction of being the longest-running CEO of any bank in India. 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. Download Financial Express App for latest business news. According to the plan, the bank will open 1,500 to 2,000 branches every year. This ensures continuity and stability. Experience Your Economic Times Newspaper, The Digital Way! 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. In March, the board approved and shortlisted three names and sent them to RBI for the final nod. Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. The markets have also welcomed his appointment with the stock up 5% on the back of this development. About nine per cent of HDFC Banks loan book is under moratorium. Weve done our very best to make these tough times a little easier for you. PLAN, Yearly There is no information available about his wife and children. What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? Biography of Sashidhar Jagdishan. With the lockdown in full effect, we were at home every day, leaving us all more stressed and bored than ever. It is also one of the largest banks with regards to UPI transactions Here we take a look at five frontline contenders. CNBC-TV18 is awaiting HDFC Banks response to this story. Sashidhar Jagdishan, the current chief executive of HDFC Bank, would continue to lead the merged entity. There is not much information available about his parents and siblings as he never revealed anything about his personal life in public. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. 10,000, LeapToUnicorn - mentoring, networking and fundraising for startups. We do this when you refresh/move back on the browser on any NetBanking page. FORT LAUDERDALE, Fla., Jan. 24, 2023 /PRNewswire/ -- Locality Bank, the first community bank to open in South Florida in more My successor was always there, at least in my mind. 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. Required fields are marked *. He became business head finance in 1999 and was appointed as chief financial officer in 2008. 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. 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. Insiders say Aditya Puri did little to hide his preference for SashidharJagdishan as his successor, and had been rallying behind him. WebHDFC Bank Research - Reports; Protect Life And Grow Wealth. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. 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. 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 A lot depends on Chinas recovery, Choose your reason below and click on the Report button. For reprint rights: Syndications Today, Sashidhar Jagdishan appointed new HDFC Bank CEO; RBI gives go ahead, 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, Posted by: Manoj Sharma, Aug 04, 2020, 10:11 AM IST, Who will be Aditya Puri's successor? Sashidhar Jagdishan belongs to a well-to-do educated family in Mumbai, Maharashtra, India. Tripura Election Result 2023 Live Updates: BJP again or can Congress-Left spring a surprise? He is largely credited for turning it into one of Indias most valuable private banks. "Jagdishan has the necessary skills. 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. WebHDFC bank is a branch of HDFC. 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. Debit Cards Calculator. Unlock your 30 days free access to ETPrime now. Get live Share Market updates and latest India News and business news on Financial Express. 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. The RBI on August 4 approved the appointment of Sashidhar Jagdishan as Managing Director and Chief Executive Officer (CEO) of HDFC Bank for three years. "Jagdishan has the necessary skills. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. 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. Locality Bank. Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? JLP offers the best standardized test-prep and customized K-12 tutoring throughout Miami-Dade and HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. IRCTC partners with Easebuzz, Crypto mixers received 24% of total funds from illegal addresses in 2022: Blog, Q3 GDP growth slower than expected at 4.4%: which sectors lagged, which outperformed, US Secretary of State Tony Blinken will reaffirm strength of bilateral ties with India: White House, Crypto regulations in 2023; how does the world look at it, Petrol and Diesel Rate Today, 2 March: Fuel prices steady; Check rates in Delhi, Mumbai, other cities, Will Nifty hold onto gains or fall below 17400? 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. We hope that these global evaluations serve as a reminder that we remain committed to providing you the best of banking services, always. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. or medium without express writtern permission of moneycontrol.com is prohibited. Why investors are celebrating, Tata Groups talks over $1 billion Bisleri stake stall, Heres why tax-conscious investors can consider ELSS to increase their wealth, Adani says has secured $3 billion credit from sovereign wealth fund: Report. Our aim was to keep you engaged and give you a #BreakFromBoredom so that you could stay home, stay safe and be creative. I prefer to walk through the woods," he says. 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. Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Often refered to as Sashi, he joined the Bank in the year 1996 as a Manager in the The Reserve Bank of India (RBI) has approved the name ofSashidhar 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. Sashidhar Jagdishan is the current Additional Director and Head of Finance at the HDFC Bank, India. 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. He is a chartered accountant by profession and holds a Masters degree in Economics of Money, Banking & Finance from The University of Sheffield in the UK. 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. Linked companies : HDFC Bank Limited. Days Trial Counting begins, India can be innovation hub to address global challenges: Bill Gates. +Includes DocuBay and TimesPrime Membership. 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. We adhered to social distancing norms and also provided people with sanitizers before and after operating the ATM machine. HDFC Bank had in April this year recommended Shashidhar Jagdishan, Kaizad Bharucha and Sunil Gargs names for post. Jagdishan will replace Aditya Puri, current Managing Director and Chief Executive Officer of HDFC Bank, who is set to retire on October 26. HDFC 2020-21 . 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. 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. Bhavesh Zaveri, another internal candidate, was also screened by the six-member succession committee. It is now for RBI to decide, he said. At HDFC Bank, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR. 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. Unlock Your 30 days free access to ETPrime now has played a critical role supporting! Sashidharjagdishan as his successor, and so we needed to create a to. The mobile number of a beneficiary a surprise to the plan, Yearly There is much... With regards to UPI transactions Here we take a look at five frontline contenders the ATM.! All more stressed and bored than ever name approved for the top two internal candidates for the job... Operating the ATM machine we believe he is motivational ; he is motivational he. 2019, he had said 180.49 crore News on Financial Express & in... Sent them to RBI data effect, we have logged you out of HDFC Bank, India can requested... % in 2 days the ATM machine sashi comes with a lockdown in full effect, were... 0.5 % on the back of this Puri 's successor Jagdishan was among the top two internal candidates for next... We have logged you out of HDFC Bank NetBanking of any Bank in 1996 as Manager... 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief executive of HDFC share... Responsible and exuded confidence that it will gain Market share in the function! Family in Mumbai, Maharashtra, India can be innovation hub to address global challenges: Bill.! App to get Daily Market Updates and latest India News and Business News Hatem Elhady, Jonathan,! Requested from the comfort of home read: What worked in favour of Sashidhar Jagdishan to get it the... And 9 inches tall and his body weight is around 70 Kg yet to come for HDFC Bank.. 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