A tale of two theories, This website follows the DNPAs code of conduct. Seattle bans caste discrimination: What does the law entail? HDFC Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. Dont miss out on ET Prime stories! Reproduction of news articles, photos, videos or any other content in whole or in part in any form Sashidhar Jagdishan, the current chief executive of HDFC Bank, would continue to lead the merged entity. Also read:HDFC Bank share price gains nearly 6% on approval of new CEO. In what is easily the most keenly awaited and closely watched succession story in India Inc today, the bank finally has a name that will bring much relief to investors. For reprint rights: Adani Enterprises stock up 31% in 2 days. HDFC Bank was founded in 1994, and since then Aditya Puri, CEO of HDFC Bank, has been heading the operations. He also holds the distinction of being the longest-running CEO of any bank in India. As a result, he completed his masters degree in Economics of Money, Banking, and Finance. Copyright e-Eighteen.com Ltd. All rights reserved. Last year, HDFC Bank had constituted a six-member search committee to replace Puri. It is now for RBI to decide, he said. With the current situation of a pandemic of global proportions, staying healthy is at the forefront of everyones minds. 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. It is also one of the largest banks with regards to UPI transactions They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. Prior to HDFC Bank Aditya Puri was the Chief Executive of Citi Bank, in Malaysia where he handled functions across countries likeGreece, Saudi Arabia, Hong Kong, Korea, Taiwan, India and China. 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Industry Trends on 4000+ Stocks, Pro Investing by Aditya Birla Sun Life Mutual Fund, Canara Robeco Equity Hybrid Fund Direct-Growth, Sashidhar Jagdishan likely to be executive director of HDFC Bank. Experience Your Economic Times Newspaper, The Digital Way! Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. HDFC CEO (Shashidhar Jagadeesan) , . Weve done our very best to make these tough times a little easier for you. "I will play my favourite game, golf. Puri too was a Charted Accountant by profession who studied commerce from Panjab University. 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. He was appointed as Chief Financial Officer in 2008, and was replaced bySrinivasan Vaidyanathan in 2019. It had reported a robust 19.6 per cent growth in its net profit for the first quarter of the fiscal. Their first office was founded in Maharashtra, India. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. 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. 12 were here. To revisit this article, visit My Profile, then View saved stories. October 27, 2020, under Section 35B of the Banking Regulation Act 1949," HDFC said in a statement on Tuesday. JLP offers the best standardized test-prep and customized K-12 tutoring throughout Miami-Dade and The report further states that the RBI has approved Sashidhar Jagdishans appointment for three years from the date of his joining, ie, October 27, 2020. Sashidhar Jagdishans peers at other companies are Bosun Adekoya, Nooradlenna Razak, Hatem Elhady, Jonathan Eisenberg, Stephen Collins. 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. HDFC Ltd Chairman Deepak Parekh will step aside, after having led India's mortgage-lending pioneer for more than four decades, once the proposed merger between the home-financier and HDFC Bank is consummated. CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. The 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. Jagdishan has worked closely with Puri since he joined the bank in the 1996. Download Financial Express App for latest business news. In an uncertain environment like this, we believe an internal candidate who is in sync with the outgoing CEO Puri is the right choice. Jagdishan will replace Aditya Puri, current Managing Director and Chief Executive Officer of HDFC Bank, who is set to retire on October 26. Axis Bank-Citibank merger complete: What will happen to your Citi credit card, Citi debit card, savings, NRE account, home loan? Loans On Credit Card EMI Calculator. Shashidhar Jagdishan is currently the Group Head and Change Agent of HDFC Bank. Linked companies : HDFC Bank Limited. 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. As a Bank we are certainly sorry for what has happened and have taken this as an opportunity to improve and redouble our efforts to fix this problem for good, HDFC Bank's managing director and CEO, Shashidhar Jagdishan said. 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 In the face of this global health crisis, people could only step outside for essentials, resulting in crowds forming outside essential stores, thereby increasing the chances of infection. Edited By jyoti choudhary, Updated: 25 Jul, 2021 05:36 PM. PLAN. Aditya Puri who has been associated with the private sector lender since it started operations back in 1994 is set to retire in October this year. Car Loan BT Top-Up Calculator. Our aim was to keep you engaged and give you a #BreakFromBoredom so that you could stay home, stay safe and be creative. 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 Social distancing was the need of the hour, and so we needed to create a symbol to remind people of this. 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. We also used the song to encourage people to contribute to the PM-CARES Fund and support the nation in these trying times. Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. HDFC Bank sets up panel to shortlist candidates, HDFC Bank becomes first bank to cross Rs 7 lakh crore market cap, 'Sharing a Coke, wearing Bata shoes': HDFC Bank chief Aditya Puri takes a walk down memory lane. There is not much information available about his parents and siblings as he never revealed anything about his personal life in public. He is largely credited for turning it into one of Indias most valuable private banks. 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. Earlier last month Puri sold shares of HDFC Bank worth Rs 843 crore. Battle Of The Foldable Smartphones At MWC | Tecno & Oppo Join The Race | Mobile World Congress 2 '2021-22 Was Year Of Milestones For India's Tech Industry', Says NASSCOM President Debjani Ghosh, Invest in high-rated bonds from as low as Rs. "The Reserve Bank of India (RBI) vide its communication dated August 3, 2020, has approved the appointment of Mr. Sashidhar Jagdishan as Managing Director & CEO of the Bank for a period of 3 (three) years w.e.f. 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. Get your daily dose of business updates on WhatsApp. We adhered to social distancing norms and also provided people with sanitizers before and after operating the ATM machine. 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