RBI approved Anup Bagchi as HDFC Bank MD & CEO for three years.
He takes charge on October 27, succeeding Sashidhar Jagdishan.
The board named him additional director from October 2, subject to shareholder approval.
India's largest private lender, HDFC Bank, has appointed former ICICI Bank executive Anup Bagchi as its next MD and CEO for a period of three years.
"We wish to inform you that pursuant to an application made by the Bank to the Reserve Bank of India (“RBI”), the RBI vide its communication dated October 1, 2026, has approved appointment of Mr. Anup Bagchi as the MD & CEO of the Bank...for a period of 3 (three) years with effect from October 27, 2026," the bank said in a regulatory filing.
1 September 2026
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The RBI approved Bagchi's appointment and remuneration on October 1 under Section 35B of the Banking Regulation Act, 1949.
Notably, Bagchi will succeed Sashidhar Jagdishan, who will complete his tenure as the bank's MD and CEO on October 26. The bank's board also appointed Bagchi as an additional director with effect from October 2, subject to shareholder approval.
Bagchi is currently the MD & CEO of ICICI Prudential Life Insurance.
