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The Reserve Bank of India (RBI) has approved the name ofSashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. 8 things to know before stock market opens, Tata Steel, Bajaj Finserv, Adani Ports, Mindspace REIT, Rail Vikas Nigam, Hero MotoCorp stocks in focus, Explainer: Maiden Pharma & Drug regulation, G20 Foreign Ministers Meet: Jaishankar meets and greets foreign delegates; See Photos, Greeces deadliest train collision in decades See Photos, Rare winter blizzard wraps California in snow blanket; braces for more See Photos, HOUSING DEVELOPMENT FINANCE CORP SHARE PRICE, Uttarakhand Elections 2022: Opinion poll predicts Congress edge over BJP, Harish Rawat popular CM face, F&O weekly expiry: Go for Bear Put Spread for Nifty bulls; Bank Nifty support at 38000; check trading guide, Nifty may head to 17850 if it remains below 18000; watch Tata Motors, SBI, others for stock-specific action, Joe Biden says nation weary from Covid, but US in a better place, Disney names Rebecca Campbell as international content group lead, Global Investment Summit: Investors mean a lot to us and we already have their trust, says Andhra CM YS Jagan Mohan Reddy, Blinkit plans to give Urban Company a run for its money, Nexus closes $700-mn fund to back startups in India, US, Indias tech industry set to reach $245 billion in FY23, Broadband India Forum proposes govt-industry revenue sharing from digital infra use, IT staff should be back in offices: Rishad Premji, Banks can absorb expected credit loss regime impact: India Ratings, India can be innovation hub for world: Bill Gates, Live: Stage set for Tripura, Meghalaya, Nagaland election results today, US, Russia harden stands ahead of G20 foreign ministers meeting today, Russias TMH bids lowest for making 200 Vande Bharat trains in India, Covid of 'natural origin' or 'lab leak'? Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Air India to recruit 900 pilots, 4,200 cabin crew trainees this year, Know how to integrate ChatGPT with WhatsApp, Stocks that will see action on February 24, 2022, IOC plays cupid and matchmaker at workplace, Indiabulls Housing Finances board and management working on simplification of companys structure: Gagan Banga. To revisit this article, visit My Profile, then View saved stories. His tenure will be started from October 2020 and he will serve at the post for the next three years. WebCar Loan EMI Calculator. HDFC Bank launches second edition: . Currently, Sashidhar Jagdishan is serving as the Group Head and Change Agent of HDFC Bank and his role includes heading the functions of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. Download The Economic Times News App to get Daily Market Updates & Live Business News. Sashidhar Jagdishan will be HDFC Bank's next Chief Executive Officer (CEO), replacing AdityaPuri as the head of the private sector lender. WebHDFC Bank Research - Reports; Protect Life And Grow Wealth. HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. Often refered to as Sashi, he joined the Bank in the year 1996 as a Manager in the Finance function and later became Business Head- Finance in 1999. It is now for RBI to decide, he said. My successor was always in place, at least in my mind. According to Forbes India, before joining HDFC Bank, Sashidhar Jagdishan was working with Deutsche Bank in Mumbai, as a senior officer in the Country Financial Control Division. PLAN, Access the exclusive Economic Times stories, Editorial and Expert opinion, 90 Days Prime access worth Rs999 unlocked for you, Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors, Stock analysis. With less than three months for HDFC Banks Managing Director and CEO Aditya Puri to retire, his successor, Sashidhar Jagdishan, will have adequate time to transition into his new role. It has nearly 300 shareholders and 90% of them are local. Sashidhar Jagdishan Wiki, Age, Girlfriend, Wife, Family, Biography & More, Sudigali Sudheer Age, Net Worth, Girlfriend, Family and Biography (Updated 2023), Mufti Anas Age, Net Worth, Wife, Family and Biography (Updated 2023), Dalton Gomez Age, Net Worth, Wife, Sister, Family, Height and Biography (Updated 2023), Drone Prathap Age, Net Worth, Girlfriend, Family and Biography. Music will become the filler, he adds. WebHDFC bank is a branch of HDFC. Here we take a look at five frontline contenders. It was established in 1994. Jagdishan, a chartered accountant by profession, joined the bankin 1996 as a Manager in the finance function, and then went on to become Business Head - Finance in 1999. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. He also joined the bank around 1996 as a Manager in the Finance function, and then went on to became Business Head - Finance in 1999 and Chief Financial Officer in the year 2008. At HDFC Bank, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR. {{NavBarAdvancedController.userName.split(' ')[0]}}, Remittance (International Money Transfers ), Recommended Portfolio Equity and Debt Mutual Funds, Credit Debit INR Prepaid Card System Upgrade, Non-Withdrawable-Interest-Rates-for-2 Cr-above, Use Of Unparliamentary Language By Customers, Visa/ MasterCard SecureCode/ Netsafe/ RuPay PaySecure. So, we brought youTheArtProject, an online platform for people of all age groups to show the world how they see the world through the canvas of Arts, Crafts and Photography. In the current scenario, you risk infection every time you step outside. Recently, RBI has removed the ban on issuing new credit cards for a long time on HDFC Bank. "A meeting of the board of directors of the bank will be convened in due course inter-alia to approve the appointment of Jagdishan as the MD & CEO," the bank said. What we hear from many employees is that Sashi is a hard task master and what is essential is to ensure the stellar execution track record that HDFC Bank has built over the years. Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. This facility operated between 10 a.m. and 5 p.m. using sanitized ATM Vans. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. The The RBI on August 4 approved the appointment of Sashidhar Jagdishan as Managing Director and Chief Executive Officer (CEO) of HDFC Bank for three years. "Jagdishan has the necessary skills. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? Also, in our marketing with investors across the globe, Sashi was their preferred choice. HDFC 2020-21 . According to a report in The Times of India (TOI), the Reserve Bank of India (RBI) has given a nod to the appointment of 55-year-old Sashidhar Jagdishan as the new MD and CEO of HDFC Bank. It is also one of the largest banks with regards to UPI transactions Invest as low as 10,000 and earn better returns than FD, Find safe & high-yielding bonds for your buck. Interestingly, both Jagdishan and executive director Kaizad Bharucha worked with the bank for close to 25 years, having joined in February 1996 and October 1995, respectively. After graduating in physics, Jagdishan pursued his masters degree in economics, before becoming a chartered accountant by profession. 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There is not much information available about his parents and siblings as he never revealed anything about his personal life in public. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate He added that HDFC Securities will be responsible and exuded confidence that it will gain market share in the next 2-3 years. He didnt have any tattoo painted on his body. S&P has said, and we quote, Overall, we believe HDFC Banks individual creditworthiness is significantly stronger than the average of the Indian Banking Sector, reflected in its SACP of BBB+. Sashidhar Jagdishan joined the HDFC bank in 1996, after the completion of his masters degree. Sashidhar Jagdishans peers at other companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan Eisenberg, Stephen Collins. Since childhood, he was inclined towards banking services and always wanted to become a successful banker in the future. Sanzone said his group completed a $29.15 million private capital raise for Evermore Bank. Sashidhar Jagdishan has experience of over 29 years and he played a vital role in supporting the growth of the HDFC bank. Register now. MUMBAI: Sashidhar Jagdishan, chief financial officer of HDFC Bank, is tipped to be elevated as executive director after deputy managing director Paresh Gold Loan EMI Calculator. Linked companies : HDFC Bank Limited. Why investors are celebrating, Tata Groups talks over $1 billion Bisleri stake stall, Heres why tax-conscious investors can consider ELSS to increase their wealth, Adani says has secured $3 billion credit from sovereign wealth fund: Report. Tripura Election Result 2023 Live Updates: BJP again or can Congress-Left spring a surprise? Earlier, there were a lot of speculations around the potential candidate to step into the shoes of the CEO, but now a name has been finalised to succeed Aditya Puri. Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. Currently, Sashidhar Jagdishan is serving as the Group Head and Change Agent of HDFC Bank and his role includes heading the functions of Finance, Human Sashi, as Sashidhar Jagdishan is popularly called, has emerged as the clear front-runner, with Puri dropping several hints about his role in bringing about the digital transformation in the bank to give it an edge above its peers. 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Jagdishan is currently Group Head and Change Agent, HDFC Bank. 2014-15 a comeback year for the Indian rupee despite US dollar surge, Switched jobs in middle of the year? Credited with scripting the banks success story, Puri has grown the banks balance sheet by a consistent 20 percent-plus annual growth rate to Rs 1,545,103 crore now through the economic upturns and downturns. We are doing our best so that you can stay home and stay safe, and to do so, we had to bring the things you needed to your doorstep. Includes DocuBay and TimesPrime Membership. Unlock your 30 days free access to ETPrime now. Puri's successor Jagdishan was among the top two internal candidates for the top job at HDFC Bank. Not neutral: On Indias stand on Ukraine at the U.N. Madhya Pradesh woman fleeing ritual sacrifice offered asylum in Tamil Nadu, Hungarian woman linked to kidnapping of Mehul Choksi arrested in Abu Dhabi: reports, Sergio Ramos announces retirement from Spain national team. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. It had however, noted that the continued slowdown in economic activity has led to a decrease in retail loan origination, sale of third party products, use of credit and debit cards by customers, efficiency in collection efforts and waivers of certain fees. The students must be currently studying in Classes 1 to 12 in a private, government, or government-aided school. You could make payments using just the mobile number of a beneficiary. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. Having almost 3 decades of experience in the banking industry, Sashidhar Jagdishan is Charted Accountant by profession who also holds a Masters degree in Economics of Money, Banking & Finance. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. Counting begins, Meghalaya Election Result 2023 Live Updates: Will Conrad Sangma prove exit polls wrong? To read full story, subscribe to ET Prime, Billed annually at Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. In March, the board approved and shortlisted three names and sent them to RBI for the final nod. PLAN. WebHowever, for this one will have to wait till the merger of HDFC Bank and HDFC. We used our logo, the HDFC BankGrid, to mark six-foot intervals outside essential stores, branches and ATMs, where crowds tend to gather, to remind the masses to maintain a safe distance from each other by simply standing within the four corners of the logo. IRCTC partners with Easebuzz, Crypto mixers received 24% of total funds from illegal addresses in 2022: Blog, Q3 GDP growth slower than expected at 4.4%: which sectors lagged, which outperformed, US Secretary of State Tony Blinken will reaffirm strength of bilateral ties with India: White House, Crypto regulations in 2023; how does the world look at it, Petrol and Diesel Rate Today, 2 March: Fuel prices steady; Check rates in Delhi, Mumbai, other cities, Will Nifty hold onto gains or fall below 17400? Download Financial Express App for latest business news. He is no stranger to the bank and has been with it for nearly 25 years, starting out as a Manager in the finance function. The latest development lifts the veil on who will be leading Indias largest prive sector bank out of the woods in the coming fiscal year after the coronavirus induced economic slowdown has put the banking sector in stress. HDFC Bank is the largest credit card issuer with 1.49 crore cards is use according to RBI data. Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. Eligibility. So, we bring you offers and discounts on medicines, e-consultations, check-ups and more from leading brands like 1MG, Apollo Pharmacy, IndusHealth Plus and Lybrate. Also read: Who will be Aditya Puri's successor? Benchmark bond yields in India climbed to their highest since the first week of November as tightening liquidity and concerns over higher government borrowing in FY24 dented demand for sovereign debt. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. We also used the song to encourage people to contribute to the PM-CARES Fund and support the nation in these trying times. Save my name, email, and website in this browser for the next time I comment. Download Financial Express App for latest business news. Also Read: Adar Poonawalla Wiki, Age, Girlfriend, Wife, Family, Biography & More. Fixed Deposit Calculator. 2499 1749, Monthly Loans On Credit Card EMI Calculator. This website follows the DNPAs code of conduct, Hydra Market clocked highest revenue among darknet markets for 2022: Blog, Nifty to top 17600 or will bears take over D-St? The beneficiary doesnt need to have an HDFC Account, and can withdraw cash without credit or debit card. Sandeep Bakhshi, MD and CEO of ICICI Bank is Indias 2nd highest paid banker and this is his salary, 7 highest-paid CEOs in the world: This is why their net worth amounts in crores, The 5 richest Indian women of 2020, their net worth and how they make their crores, The 15 wealthiest Indians who have a massive net worth, Elon Musk loses a massive personal fortune worth Rs 16 lakh 27 thousand Cr. The outgoing Aditya Puri nurtured the private sector bank from the rudimentary stage as he aimed to create a world-class Indian Bank. It had reported a robust 19.6 per cent growth in its net profit for the first quarter of the fiscal. Jagdishan has worked closely with Puri since he joined the bank in the 1996. Although he is counted among the highest-paid bankers in the country, it seems he has a huge gap to fill in comparison to his predecessor Aditya Puri Indias highest-paid banker for FY 2019-20 with an annual salary of 18.92 crore. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. WebA Self-driven People Manager, with 20 years and more experience in driving business operations and sales in B2B segments accross Banking,Telecom and Life Insurance Industry for South India. Our potential successor has been with us for 25 years. 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