The Reserve Bank of India (RBI) has approved Anup Bagchi’s appointment as Managing Director and Chief Executive Officer of HDFC Bank. His three-year term takes effect on October 27, 2026.
Bagchi will succeed incumbent CEO Sashidhar Jagdishan, who announced in August that he would not seek reappointment. The decision concludes the leadership succession at the country’s largest private lender and removes a key uncertainty for investors.
Bagchi is currently Managing Director and CEO of ICICI Prudential Life Insurance. He has more than three decades of experience in banking, capital markets and insurance.