New Delhi, 19 September (HIST). The tenure of Shashidhar Jagadeesan, Managing Director (MD) of HDFC Bank, the country’s largest private sector lender, has been extended for three years. Reserve Bank of India (RBI) has approved to extend the tenure of Shashidhar Jagadishan.
HDFC Bank said in a statement issued on Tuesday that RBI has approved the reappointment of Shashidhar Jagadeesan. In a regulatory notice issued by the bank, the Reserve Bank on September 18, 2023 has approved extension of the tenure of Jagadishan for a period of three years from October 27, 2023 to October 26, 2026.
The bank said that the tenure of Shashidhar Jagadishan has been extended for 3 years from October 27. According to the statement, to give effect to the above appointment, a meeting of the Board of Directors of the bank will be called in due course of time. Jagadeesan’s service expansion comes months after the merger of parent company HDFC Ltd with HDFC Bank. This merger is effective from July 1, 2023.
It is noteworthy that in the year 2020, Shashidhar Jagadishan was appointed the Managing Director (MD) and CEO of the bank in place of Aditya Puri, the founder Chief Executive Officer (CEO) of HDFC Bank.
Hindustan News/Prajesh Shankar/Akash