18 hrs ago

HDFC Bank Proposes Rs 35.89 Crore Package for Incoming CEO

Anup Bagchi is expected to become the chief executive of HDFC Bank in October 2026.

The bank has proposed paying him Rs 35.89 crore a year.

Part of that amount is fixed, while much of it depends on performance.

Some of the performance-based pay would be cash, and some would be linked to shares.

The bank has also proposed a one-time joining bonus worth about Rs 7.34 crore.

Some of the share awards would become available to him over several years.

The Reserve Bank of India has approved his appointment and proposed pay.

HDFC Bank still needs its shareholders to approve the proposal.

Key facts

Proposed annual package: Rs 35.89 crore
Fixed pay: Rs 8.97 crore
Target variable pay: Up to Rs 26.92 crore, stated as 300% of fixed pay
Appointment term: Three years, from October 27, 2026, to October 26, 2029
Proposed joining bonus: About Rs 7.34 crore in RSUs and ESOP/ESOS instruments
Shareholder approval: HDFC Bank will seek shareholders’ approval; the Reserve Bank of India has approved the appointment and pay package
Housing loan facility: Rs 3.75 crore, split into two equal slabs at interest rates of 2.5% and 5%

thehansindia.com · 18 hrs ago