RBI approves Anup Bagchi’s appointment as HDFC Bank CEO for three years; he will take charge after Sashidhar Jagdishan’s term ends on October 26.
HDFC Bank, India’s largest private-sector lender, has appointed Anup Bagchi as its next chief executive officer for a three-year term after receiving approval from the Reserve Bank of India.
Bagchi, currently CEO of ICICI Prudential Life Insurance, will succeed Sashidhar Jagdishan, whose term ends on October 26.
The appointment follows the bank’s submission of two candidates to the RBI for consideration, Bagchi and HDFC Bank Deputy Managing Director Kaizad Bharucha, in line with banking regulations requiring lenders to recommend at least two candidates for the top post.
Bagchi has previously held senior roles at ICICI Bank, where he led both retail and wholesale banking operations. His appointment brings an experienced banking executive to the helm of HDFC Bank as it continues to navigate growth and integration following its merger with HDFC Ltd.