RBI today approved Shashidhar Jagadishan as the next CEO of the HDFC bank. The tenure of Aditya Puri, current CEO of the bank is going to get over on October 20, 2020.
As we all know, because of Corona Virus disease the financial sector of the country is going through some tough time. The lockdown which was imposed in the country a few months back gave birth to some serious problems for the banks who in and out are the backbone of the Indian economy. And now when the lockdown is slowing down it is very important for the banks to get back on track as soon as possible.
HDFC bank, one of the biggest private banks in India today became a hot topic of discussion when Reserve Bank of India approves Shashidhar Jagadishan as the next CEO of the corresponding bank. Housing Development and Finance Corporation is mainly known as HDFC bank was established in the year 1994 and today it is India’s largest private sector lender by assets.
Shashidhar Jagadishan will take over Aditya Puri as the CEO of the bank:-
Bank’s former Cheif Executive officer Aditya Puri’s term is going to end in October 2020. Aditya Puri was leading HDFC bank for the last 25 years and during his tenure. The bank’s performance was always on the positive side. Aditya Puri is the longest-serving head of any private bank of India. In the year 2018, Aditya Puri was named as the best CEO of the world. He has achieved almost everything during his 25 years of tenure and now on August 20, 2020, he is retiring.
Shashidhar Jagadishan is with HDFC for 25 years and is one the most trusted member. Aditya Puri in his latest interaction with the shareholders said that the name of his successor was always there in his mind. He also added that Shashidhar is one of the finest to take up this task.
According to media sources, the HDFC bank has selected three people Sashidhar Jagdishan, Kaizad Bharucha, and Sunil Garg, and gave the authority of taking the final decision to RBI. Kaizad Bharucha is the head of HDFC bank’s wholesale banking division while Sunil Gard is currently an employee of Citi bank. But neither of these things matter now because RBI has finally approved Shashidhar Jagadishan as the brand new CEO of HDFC bank.
Shashidhar joined HDFC bank in the year 1996 as the manager in the finance function. 3 years later he became the financial business head of the bank. And then there was no looking back. In the year 2008 Shashidhar Jagadishan was appointed as the chief financial officer of the bank. And now he is going to lead one of the finest and biggest private banks in India.
According to HDFC bank’s employees, Shashidhar played a very crucial role in providing a tremendous amount of growth to the bank. He was always there when the bank needed him with his guidance. Shashidhar has overall 30 years of experience. Before joining HDFC, he worked with Deutsche Bank, AG, Mumbai as the Senior Officer in the Country Financial Control Division.
Shashidhar is a graduate in science with physics as the main subject. He is also a chartered accountant. He also holds a Master’s degree in Economics of Money, Banking & Finance from the University of Sheffield, UK.
Last year in September HDFC bank announced that they were looking for the successor of their first CEO Aditya Puri. And now RBI has finally approved Shashidhar Jagadishan as the CEO. HDFC will be looking forward to work under the guidance of Shashidhar Jagadishan.