HDFC Bank appointed Anup Bagchi as its MD and CEO for 3 years effective October 27, with a board-driven three-pronged strategy to rebuild trust, optimize the balance sheet, and ensure future readiness

Mon 5 Oct 2026

CEO tenure

3 years

Heard on business television between 08:31:13 - 08:34:13 IST.

• HDFC Bank appointed Anup Bagchi as MD & CEO for 3 years effective 27th October, replacing outgoing Jagdishan who did not seek reappointment.
• The appointment process was driven by board chair Rajeev Kumar, former Chief Election Commissioner, and moved quickly with one physical and one virtual meeting before RBI approval.
• The new leadership's three-pronged strategy covers rebuilding brand and trust (after past issues like the 81 issue and MSRTC issue), balance sheet optimization post-merger, and future readiness including tech and digitalization.
• Sources said customer service had deteriorated and needs fixing, with a push for a 'one HDFC Bank' approach across functions.
• There is preparedness for possible executive exits given an outsider is taking charge, but the bank believes it has bench strength for continuity; the board is expected to play a central role given the bank is promoter-less.
• A guest, Diganth Arya of Green Edge Wealth, was brought in to discuss the appointment, noting the government did not like infighting within the bank and wanted to give private sector bankers a chance.

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