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Informist, Saturday, Sept. 12, 2026

 

--HDFC Bank submits names of 2 candidates for MD, CEO to RBI for approval 

--HDFC Bank appoints Jimmy Tata as ED for 3 years post RBI approval 

--HDFC Bank reappoints V Srinivasa Rangan as ED for 1 year from Nov 23 

 

MUMBAI – HDFC Bank Ltd. Saturday said it has submitted the names of two candidates for managing director and chief executive officer to the Reserve Bank of India for approval, nearly two weeks after Sashidhar Jagdishan decided to retire from the post after his current term ends. The bank has appointed Jimmy Tata as a whole-time director, designated as executive director, for three years with effect from the date of approval of the RBI, the bank said in an exchange filing.

 

The bank has reappointed V. Srinivasa Rangan as a whole-time director, executive director, for one year effective Nov. 23. Rangan heads the human resources, corporate legal, group oversight and secretarial, investment banking, information security group, ethics function, and fraud and vigilance functions of the bank.

 

The board has also decided to create an additional position of whole-time director, increasing the number of total whole-time directors to four. "Creation of one additional position of Whole-time Director...in order to have sharper synergy and oversight, including on the subsidiaries of the Bank as well as to have larger pipeline for succession planning," the bank said. It said the new position will be filled in consultation with the new managing director and chief executive officer. 

 

On Aug. 29, Jagdishan said he would retire from the country's largest private sector bank when his current term ends on Oct. 26. Former chairman Atanu Chakraborty resigned in March citing practices that were not congruent with his personal values and ethics. 

 

For the June quarter, HDFC Bank had reported net profit of INR 190.6 billion and total income of INR 921.84 billion. Friday, its shares ended at INR 708.25 apiece on the National Stock Exchange, up over 2% from Thursday.  End

 

Reported by J. Navya Sruthi

Edited by Shubhayan Bhattacharya

 

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