Business news · Corporate · 31 Aug 2026
HDFC Bank said MD and CEO Sashidhar Jagdishan, 61, has decided not to seek reappointment and retires when his term ends on October 26, 2026. He joined the bank nearly three decades ago and became CEO in October 2020, succeeding Aditya Puri. The board has begun searching for a successor, whose appointment needs RBI approval; media reports said deputy MD Kaizad Bharucha and external candidates are being evaluated. The shares rose 1.92% to Rs 733.85 but are down 25.76% in 2026.
HDFC Bank is India's largest private lender and one of the heaviest index weights, so a leadership change during a period of slow growth and a roughly 26% share-price fall this year matters for benchmark indices, bank-heavy mutual funds and listed group companies such as HDFC Life, HDFC AMC and HDB Financial Services. The successor choice and the RBI approval timeline shape its strategy on loan growth, deposits and margins after the HDFC merger.
Reported by Business Standard — “HDFC Bank gains as Jagdishan announces exit; board begins search for successor” ↗ on 31 Aug 2026.
NSE stocks, from the last close on or before 31 Aug 2026 to the close on 15 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Financial Services | 125 | -6.5% | 24 of 125 | -0.2 pts |
| All tracked stocks | 804 | -6.3% | 178 of 804 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| HDFC Bank Ltd. HDFCBANK | ₹709 | ₹726.85 | +2.5% |
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