The Reserve Bank of India (RBI) has approved the appointment of Anup Bagchi as Managing Director & CEO of HDFC Bank for a three-year term starting October 27, 2026. This marks a key leadership change following incumbent MD & CEO Sashidhar Jagdishan’s decision not to seek a new term.
Bagchi was one of two candidates recommended by HDFC Bank to the RBI for the MD position. The other candidate was Kaizad M. Bharucha, the bank’s Deputy Managing Director. After regulatory approval, HDFC Bank’s board approved Bagchi’s appointment as an Additional Director from October 2, pending shareholder consent.
Bagchi will take charge as MD & CEO on October 27, starting a new leadership phase. His appointment followed the formal selection by HDFC Bank’s board and RBI, which oversees CEO appointments in banks. This transition occurs as HDFC Bank continues its growth post-merger with HDFC Ltd.
As MD & CEO, Bagchi will oversee the bank’s future strategy, operations, and growth over the next three years. His tenure aims to strengthen the bank’s position across its businesses while focusing on performance and regulatory compliance.
