HDFC Bank Appoints Anup Bagchi as Next MD & CEO, to Take Charge on October 27

October 1, 2026

Mumbai: HDFC Bank has appointed Anup Bagchi as its next Managing Director and Chief Executive Officer after receiving approval from the Reserve Bank of India (RBI), marking a key leadership transition at the country’s largest private sector lender.

Bagchi, who is currently the Managing Director and CEO of ICICI Prudential Life Insurance, will assume charge at HDFC Bank on October 27, 2026. He will succeed Sashidhar Jagdishan, whose tenure as MD and CEO ends on October 26. Jagdishan has decided not to seek reappointment for another term.

Anup Bagchi to Join HDFC Bank Leadership

According to HDFC Bank’s stock exchange filing, the board approved Bagchi’s appointment as an Additional Director with effect from October 2, subject to shareholders’ approval under the Companies Act, 2013.

His appointment as MD and CEO will be for a period of three years from October 27, 2026, subject to shareholders’ approval. The RBI has approved his appointment and remuneration under Section 35B of the Banking Regulation Act, 1949.

Leadership Transition at HDFC Bank

Before the appointment, HDFC Bank had submitted two names to the RBI for consideration for the top position — Bagchi and the bank’s Deputy Managing Director Kaizad Bharucha.

The leadership change comes amid a broader reshuffle in the top management of the banking sector. Earlier on Thursday, Kotak Mahindra Bank also announced the appointment of Anup Kumar Saha as its new MD and CEO.

HDFC Bank shares ended 1.76 per cent higher at Rs 721.20 on the NSE ahead of the announcement.