RBI clears extension of HDFC Bank CEO’s term

NEW DELHI: The Reserve Bank of India (RBI) has approved the re-appointment of Sashidhar Jagdishan as the MD-CEO of HDFC Bank, it said in a exchanges filing on Tuesday.

Jagdishan’s term has been extended |for a period of three more years and he will remain at the post till 26 October 2026.

In a regulatory filing, HDFC Bank said,”In continuation of our intimation dated March 4, 2023, we wish to inform you that pursuant to an application which was made by the Bank to the Reserve Bank of India (“RBI”) upon recommendation of the Bank’s Board of Directors in this regard, the RBI vide its communication dated September 18, 2023, has approved the re-appointment of Mr Sashidhar Jagdishan (DIN: 08614396) as the Managing Director and Chief Executive Officer of the Bank for a period of 3 (three) years wef October 27, 2023 to October 26, 2026.”