The Reserve Bank of India (RBI) has approved the re-appointment of Sashidhar Jagdishan as the managing director and CEO of HDFC Bank for a period of three more years.

Jagdishan, who succeeded Aditya Puri, will remain as the head of HDFC Bank from 27 October 2023 to 26 October 2026, the bank said. 

A meeting of the board of directors of the bank will be convened in due course to give effect to the re-appointment, it added.

Jagdishan joined HDFC Bank in 1996 as a manager in the finance department and became business head - finance in 1999 and was later appointed as chief financial officer in 2008.

Prior to his appointment as MD and CEO, Jagdishan was the group head of HDFC Bank, in addition to overseeing the functions of finance, human resources, legal and secretarial, administration, infrastructure, corporate communications and corporate social responsibility.

Having graduated in science with specialisation in Physics, Jagdishan is a Chartered Accountant by profession and holds a Master’s degree in Economics of Money, Banking & Finance from the University of Sheffield, United Kingdom. 

In FY23, Jagdishan took home an annual package of Rs 10.5 crore. He was the highest paid bank executive in the country.