RBI approved Anup Bagchi, currently MD & CEO of ICICI Prudential Life, as HDFC Bank's new MD and CEO for a three-year term starting October 27, succeeding Sashidhar Jagadishan

Mon 5 Oct 2026

Heard on business television between 07:48:16 - 07:51:16 IST.

• RBI approved Anup Bagchi's appointment as HDFC Bank MD and CEO for a three-year term from the 27th of the month.
• Bagchi, an ICICI Group veteran with over 30 years experience across retail, MSME, corporate banking, treasury and markets, was the external candidate shortlisted alongside internal candidate Kaizad Barucha, HDFC Bank's Deputy Managing Director.
• He takes over from Sashidhar Jagadishan, whose term ends October 26; Jagadishan had surprised markets in August by declining a third term despite the board asking him to reconsider.
• Sources said the appointment was steered swiftly by board chair Rajiv Kumar, former Chief Election Commissioner and ex-DFS Secretary, via one physical and one virtual meeting, to avoid drift post-Jagadishan's decision.
• New leadership will pursue a three-pronged strategy: rebuilding trust/brand (hit by chairman's resignation and other issues), balance sheet optimization post-merger, and future readiness via digitization, tech, culture alignment and agility; sources noted risk of senior management exits but said bench strength is deep.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.