Anup Bagchi assumed the role of Managing Director and Chief Executive Officer of HDFC Bank on October 27, 2026. He succeeds Sashidhar Jagdishan, whose term ended on October 26, 2026. The Reserve Bank of India approved Bagchi’s appointment for a three-year term.
A veteran of the ICICI Group, Bagchi is the first external candidate to lead HDFC Bank in its more than three-decade history. Most recently, he served as Managing Director and CEO of ICICI Prudential Life Insurance.
The leadership change comes as HDFC Bank addresses challenges following its 2023 merger with HDFC. Bagchi has said he will meet with stakeholders to better understand the bank’s operations.