Mr. Sashidhar Jagdishan, who is group head and strategic change agent, is set to replace Aditya Puri as the new Managing Director and Chief Executive Officer of HDFC Bank, following approval from the Reserve Bank of India (RBI).

In a regulator filing, HDFC Bank says: “RBI vide its communication dated 3rd August 2020, has approved the appointment of Sashidhar Jagdishan as MD & CEO of the Bank for three years from his date of taking charge, or from 27th October 2020, under Section 35B of the Banking Regulation Act 1949.”

“Further, a meeting of the Board of Directors of the Bank will be convened in due course inter alia to approve the appointment of Sashidhar Jagdishan as the MD & CEO of the Bank, in place of Mr. Aditya Puri, who is due to retire as MD of the Bank on 26th October 2020,” HDFC Bank says.

Mr. Puri has been MD of HDFC Bank since September 1994, which makes him the longest-serving Managing Director of a private bank in India.