The board of HDFC Bank is likely to recommend incumbent CEO Sashidhar Jagdishan for another term, according to sources cited by NDTV Profit.
People in know said that the bank's board is satisfied with Jagdishan's performance and key leadership decisions during his tenure. They also noted that Jagdishan meets the Reserve Bank of India's ‘fit and proper' criteria, along with other regulatory requirements, making him eligible for reappointment.
Jagdishan's current tenure as CEO is set to end in October 2026.
Board Confidence In Leadership
The likely recommendation signals continuity in leadership at India's largest private sector lender, especially at a time when the bank is navigating regulatory expectations, growth challenges and post-merger integration dynamics.
Jagdishan, who took over as CEO in 2020, has led the bank through a period marked by digital transformation, compliance tightening and balance sheet expansion.
Separately, sources at HDFC Bank addressed concerns raised by former chairman Atanu Chakraborty, who resigned on March 18 citing “incongruence” between his values and certain internal practices at the lender.
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According to sources, the bank had already taken action against three senior employees involved in the alleged mis-selling of Credit Suisse AT-1 bonds during Chakraborty's tenure as chairman.
They further stated that the bank ensured the timely listing of HDB Financial Services, while meeting all regulatory requirements.
Sources also said that some of the wording used in Chakraborty's resignation letter was “not warranted”, adding that the bank is awaiting a full report from an external legal consultant on the matter.
While the board is expected to recommend Jagdishan's reappointment, the final decision will be subject to regulatory approvals, including from the Reserve Bank of India.
The developments come at a critical juncture for HDFC Bank, with leadership continuity seen as key to maintaining investor confidence and ensuring stable growth.
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