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. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. 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. The All rights reserved. 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. 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. The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. Always invest lots of time & energy in developing It is also one of the largest banks with regards to UPI transactions with 179.5 million transactions processed through its system in October. A lot depends on Chinas recovery, Choose your reason below and click on the Report button. 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. The outgoing Aditya Puri nurtured the private sector bank from the rudimentary stage as he aimed to create a world-class Indian 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 transition into his new role. 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. 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. "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. WebHDFC bank is a branch of HDFC. WebSashidhar Jagdishan has been with HDFC Bank for 24 years now. Your email address will not be published. The students must be currently studying in Classes 1 to 12 in a private, government, or government-aided school. 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 will be HDFC Bank's next Chief Executive Officer (CEO), replacing AdityaPuri as the head of the private sector lender. 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. 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. WebHowever, for this one will have to wait till the merger of HDFC Bank and HDFC. The Reserve Bank About nine per cent of HDFC Banks loan book is under moratorium. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. It is now for the Reserve Bank of India to decide, he had said. Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. 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. 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. Country of residence : Unknown. "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. Seattle bans caste discrimination: What does the law entail? 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. 15 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. 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. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. 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+. A tale of two theories, This website follows the DNPAs code of conduct. his date of taking charge, i.e. 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. He has played a critical role in supporting the growth trajectory of the bank, it further said. Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. Unlock your 30 days free access to ETPrime now. 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. 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. Days Trial Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. 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. Kaizad Barucha, who has the highest board experience, was the senior-most candidate in the fray. Fixed Deposit Calculator. By 2019, there were over 5000 branches in 2000 cities. 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). 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. 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? Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. 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. Get your daily dose of business updates on WhatsApp. Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? It was established in 1994. 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. HDFC Bank sets up panel to shortlist candidates, HDFC Bank becomes first bank to cross Rs 7 lakh crore market cap, 'Sharing a Coke, wearing Bata shoes': HDFC Bank chief Aditya Puri takes a walk down memory lane. He is 5 feet and 9 inches tall and his body weight is around 70 Kg. 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. Tripura Election Result 2023 Live Updates: BJP again or can Congress-Left spring a surprise? PLAN. Also, in our marketing with investors across the globe, Sashi was their preferred choice. This ensures continuity and stability. 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. Car Loan BT Top-Up Calculator. He became business head finance in 1999 and was appointed as chief financial officer in 2008. Sashidhar Jagdishan is a 55-year-old man with a decent personality. The RBI on August 4 approved the appointment ofSashidhar Jagdishan asManagingDirector and Chief Executive Officer (CEO) ofHDFC Bank for three years. To revisit this article, visit My Profile, then View saved stories. Gold Loan EMI Calculator. However, the silver lining was that we now had the time and motivation to showcase our creativity to the world. We partnered with A.R. Register now. 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. 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? 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. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate He was appointed as Chief Financial Officer in 2008, and was replaced bySrinivasan Vaidyanathan in 2019. Market Research. Download Financial Express App for latest business news. Counting begins, Meghalaya Election Result 2023 Live Updates: Will Conrad Sangma prove exit polls wrong? Reproduction of news articles, photos, videos or any other content in whole or in part in any form WebHDFC Bank Parivartan's ECS Scholarship in School Programme (Merit-cum-Need Based) 2022-23. 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. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. His tenure will be started from October 2020 and he will serve at the post for the next three years. 2499 1749, Monthly Recurring Deposit Calculator. 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. Puri too was a Charted Accountant by profession who studied commerce from Panjab University. 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. What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? Your Reason has been Reported to the admin. SIP Calculator. 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. Sashidhar Jagdishan Age : 57. 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. Trekking is my other passion. Copyright 2023, THG PUBLISHING PVT LTD. or its affiliated companies. Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice. Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. 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. Jan 24, 2023, 16:40 ET. 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. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? He also holds the distinction of being the longest-running CEO of any bank in India. Deadline 15-Mar-2023. 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 Mukesh Ambani to foray into genome testing with Rs 12,000 kit. 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. Even with a lockdown in place, people still need money and often leave home to get it. 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. Experience Your Economic Times Newspaper, The Digital Way! Download The Economic Times News App to get Daily Market Updates & Live Business News. HDFC 2020-21 . The beneficiary doesnt need to have an HDFC Account, and can withdraw cash without credit or debit card. 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