HDFC Bank Appoints Anup Bagchi As New MD & CEO

HDFC Bank has received Reserve Bank of India (RBI) approval to appoint Anup Bagchi as its Managing Director & Chief Executive Officer (MD & CEO), succeeding Sashidhar Jagdishan.

The RBI has approved Bagchi’s appointment for a three-year term from October 27, 2026, subject to shareholder approval. The bank’s Board has also appointed him as an Additional Director effective October 2, 2026.

Bagchi, a veteran financial-services professional with more than three decades of experience, is currently MD & CEO of ICICI Prudential Life Insurance. He has previously served as Executive Director of ICICI Bank and CEO & MD of ICICI Securities. During his tenure at ICICI Prudential Life, the company crossed Rs. 10,000 crore in Annualised Premium Equivalent for the first time in FY2025. Bagchi holds a management degree from IIM Bangalore and an engineering degree from IIT Kanpur.

Meanwhile, Sashidhar Jagdishan will complete his tenure as HDFC Bank’s MD & CEO at the close of business on October 26, 2026.

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