HDFC Bank’s 90-Day Reset Ends Leadership Uncertainty

HDFC Bank had several important questions to answer about its leaders and past business decisions.

In July, Rajiv Kumar became the bank’s part-time chairman.

The bank reviewed a deposit arrangement with Maharashtra’s road corporation and said it involved business overreach, but found no evidence of personal gain or bad intent.

Three senior executives received warning letters and a Rs 1 lakh penalty.

Separately, courts in Bahrain rejected seven claims connected to Credit Suisse bonds sold to some bank customers.

Then Sashidhar Jagdishan said he would not seek another term as CEO.

The Reserve Bank of India approved Anup Bagchi as the next CEO for three years.

The article describes these steps as bringing greater clarity to the bank in about 90 days.