Debasis Mohapatra
Bengaluru, 30 August 2026
Private sector lender, HDFC Bank’s CEO, Sashidhar Jagdishan will retire on October 26, 2026 as the incumbent decided not to seek any reappointment.
In an exchange filing, the bank said, “At its meeting held today (September 29, 2026), the Board of Directors took note of Sashidhar Jagdishan’s communication to not seek reappointment. Despite persuasion, Jagdishan reiterated his decision to not seek reappointment. Accordingly, he shall retire from the services of the Bank upon the close of business hours on October 26, 2026.”
“The Board deeply appreciated his commitment, leadership, contribution to the growth, and stability of the Bank and his role in the successful completion of one of the largest mergers in corporate India,” the company added.
Jagdishan took over as HDFC Bank’s MD and CEO in October 2020 after completion of Aditya Puri’s term, who had led the lender for more than two decades.
During Jagdishan’s tenure, HDFC Bank completed its merger with parent HDFC Ltd, creating one of India’s largest financial services groups.
The bank said its board will fast-track the selection and appointment of his successor well within time following Jagdishan’s decision not to seek reappointment.
The current CEO’s role has come under scrutiny after HDFC Bank’s former chairman, Atanu Chakraborty resigned abruptly saying practices at the bank were not in line with his ‘personal ethics’.
However, audit by external agency had not found any wrongdoings on the part of the current CEO.
But the bank board imposed a penalty of Rs 1 lakh each on Jagdishan, CFO and group head of retail assets in July this year pertaining to business overreach by these key executives with regard to HDFC Bank’s deposit arrangement with Maharashtra State Road Development Corporation (MSRDC).
