Archive · 22 Sep 2026
HDFC Bank Shares Rise as RBI Reviews Potential CEO
HDFC Bank is choosing a new chief executive.
The Reserve Bank of India is reportedly checking whether Anup Bagchi could get the job.
Bagchi currently leads ICICI Prudential Life Insurance.
He previously worked as an executive director at ICICI Bank.
HDFC Bank sent two possible names to the RBI, but it has not officially revealed them.
Kaizad Bharucha is reported to be the main internal candidate, while Bagchi is considered an external candidate.
The current CEO, Sashidhar Jagdishan, is expected to finish his term on October 26, 2026.
Investors pushed the bank’s shares higher because they are waiting for news about the appointment.
HDFC Bank shares rose for a second consecutive session on Tuesday amid reports of progress in the CEO succession process.
The stock climbed as much as 0.9% to Rs 746.50 in one report and reached an intraday high of Rs 748.80, or more than 1%, in another.
The RBI is reportedly seeking feedback on Anup Bagchi, currently MD and CEO of ICICI Prudential Life Insurance.
HDFC Bank submitted two preferred names to the RBI for a three-year CEO term but has not publicly identified them.
Sashidhar Jagdishan’s current term as HDFC Bank MD and CEO is scheduled to end on October 26, 2026.
- Who
- HDFC Bank, the Reserve Bank of India, Anup Bagchi, Kaizad Bharucha, and current CEO Sashidhar Jagdishan are central to the succession process.
- What
- The RBI is reportedly reviewing Anup Bagchi’s candidature for HDFC Bank’s managing director and chief executive officer position.
- When
- The developments were reported on Tuesday; HDFC Bank submitted two names earlier in the month, and Jagdishan’s term ends on October 26, 2026.
- Where
- The process involves HDFC Bank, the RBI, ICICI Prudential Life Insurance, ICICI Bank, and the Insurance Regulatory and Development Authority of India.
- Why
- HDFC Bank is selecting a successor after Jagdishan said he would not seek another term.
- Candidate under RBI review
- Anup Bagchi, MD and CEO of ICICI Prudential Life Insurance
- Tuesday share movement
- The stock was reported at Rs 746.50, up 0.9%, and also reached an intraday high of Rs 748.80
- Names submitted
- HDFC Bank submitted two candidates to the RBI for a three-year term
- Reported candidates
- Anup Bagchi and HDFC Bank Deputy Managing Director Kaizad Bharucha
- Current CEO
- Sashidhar Jagdishan, whose term ends on October 26, 2026
- Expected announcement
- A possible announcement was reported as potentially coming during the week, without official confirmation
- 2026 share performance
- HDFC Bank shares were reported to be down about 25% so far in 2026
