Sashidhar Jagdishan will be the new Chief Executive Officer (CEO) of HDFC Bank, replacing Aditya Puri. A CNBC-TV18 report citing sources said that the Reserve Bank of India (RBI) has approved Jagdishan for the role out of the nominations provided by the country's largest private bank.
Jagdishan will replace outgoing CEO Aditya Puri Puri whose term ends on 26 October. He currently serves as an Additional Director and Head of Finance, HR at HDFC Bank.
The bank had recommended Shashidhar Jagdishan, Kaizad Bharucha and Sunil Garg's names for post, the CNBC-TV18 report said.
HDFC Bank's shares rose over 5 percent to Rs 1,061.05 on the report.
Puri's 26-year stint at the bank ends in October, has been credited for the building the brand that is now the most valuable private bank in India.
Jagdishan, a Chartered Accountant by profession with a Master's degree in Economics of Money, Banking & Finance, has been with HDFC Bank since 1996, serving in various critical roles, including Chief Financial Officer.