HDFC Bank has appointed former ICICI Bank’s executive director (ED) Anup Bagchi as its new managing director (MD) and chief executive officer (CEO) for three years, said the company in a statement on Thursday. He will succeed Sashidhar Jagdishan and take charge from October 27 after he completes his tenure on October 26.
The development comes after the Reserve Bank of India (RBI) approved the appointment of Bagchi as HDFC Bank’s new MD and CEO.
The company also said Bagchi has also been appointed as HDFC’s Additional Director of Bank (ADB) with effect from October 2 “till the date of approval of the shareholders as per the provisions of the Companies Act, 2013”.
“In furtherance to our intimation dated September 12, 2026, we wish to inform you that pursuant to an application made by the Bank to the Reserve Bank of India (“RBI”), the RBI vide its communication dated October 1, 2026, has approved appointment of Mr. Anup Bagchi (DIN: 00105962) as the Managing Director & Chief Executive Officer (“MD & CEO”) of the Bank and the remuneration payable to him, under Section 35B of the Banking Regulation Act, 1949 for a period of 3 (three) years with effect from October 27, 2026,” the HDFC Bank’s statement read.
More to follow…
