Archive · 13 Sep 2026
HDFC Bank Sends Two CEO Candidates to RBI
HDFC Bank is choosing a new top leader.
Its current leader, Sashidhar Jagdishan, is expected to leave when his second term ends in October 2026.
The bank sent two possible names to the Reserve Bank of India.
It has not publicly revealed who the two candidates are.
The bank also sent their proposed pay details to the RBI.
The RBI must approve the appointment and the planned three-year term.
Kaizad Bharucha is reported to be a strong internal candidate, while several other executives are also being considered.
HDFC Bank is adding another senior director role and making other board changes to improve oversight and prepare future leaders.
HDFC Bank submitted two candidates to the Reserve Bank of India to succeed CEO Sashidhar Jagdishan.
Jagdishan’s second term is due to end in October 2026, with one report specifying October 26.
The proposed appointment, remuneration and three-year term require RBI approval.
Deputy managing director Kaizad Bharucha is reported as a leading internal contender, alongside external candidates.
The bank approved director appointments and an additional whole-time director position to strengthen oversight and succession planning.
- Who
- HDFC Bank’s board, Sashidhar Jagdishan, two undisclosed candidates and the Reserve Bank of India.
- What
- HDFC Bank submitted two candidates for its next managing director and CEO and approved related board appointments and an additional whole-time director position.
- When
- The submission was announced on Saturday; Jagdishan’s second term is due to end in October 2026, with one report giving October 26 as the end date.
- Where
- The decision was disclosed through an HDFC Bank stock-exchange filing; the appointment requires approval from the Reserve Bank of India.
- Why
- The succession process is beginning because Jagdishan will not extend his term, while the board expansion is intended to strengthen oversight and succession planning.
- Current MD and CEO
- Sashidhar Jagdishan
- Expected departure
- End of his second term in October 2026; one report specifies October 26
- Candidates submitted
- Two names, not publicly disclosed; one report says they were submitted in order of preference
- Proposed appointment
- Three-year term, including proposed remuneration, subject to RBI approval
- Reported internal contender
- Kaizad Bharucha, HDFC Bank’s deputy managing director
- Additional board position
- One new whole-time director role, bringing the total to four whole-time directors besides the MD and CEO
- Other board decisions
- V Srinivasa Rangan was approved for a one-year executive-director reappointment, and Jimmy Tata was approved as an executive director subject to RBI approval
