HDFC Bank MD Sashidhar Jagdishan decides not to seek reappointment, to retire in October - Moneycontrol.com

**HDFC Bank Managing Director Sashidhar Jagdishan Announces Retirement**

New Delhi – HDFC Bank’s Managing Director and Chief Executive Officer, Sashidhar Jagdishan, has confirmed that he will not seek reappointment to the board and will retire on 26 October 2026. The decision, first reported by Moneycontrol.com and subsequently corroborated by *The Hindu*, *Telegraph India* and *Hindustan Times*, was communicated through a formal notice to the board and the Securities and Exchange Board of India (SEBI). Jagdishan’s retirement will conclude a six‑year tenure that began in August 2020, during which the bank maintained its position as one of India’s largest private‑sector lenders.

During his leadership, Jagdishan steered HDFC Bank through a period of robust growth, overseeing a 15 % compound annual increase in net profit and expanding the loan book to cross the ₹ 15 trillion mark. He also championed digital transformation initiatives that lifted the bank’s mobile banking active user base to over 70 million, and he emphasized prudent risk management that helped the institution navigate macro‑economic headwinds and tightening monetary conditions. Under his guidance, the bank’s capital adequacy ratio remained comfortably above regulatory thresholds, reinforcing confidence among investors and depositors alike.

The board, chaired by Rajiv Kumar, has already initiated a succession planning process. Kumar briefed Reserve Bank of India Governor Sanjay Malhotra on the transition, signaling close coordination with the central bank to ensure continuity of governance and operational stability. An internal shortlist of senior executives is reportedly under review, with a final appointment expected before Jagdishan’s last working day. Analysts expect the new chief executive to sustain the bank’s growth trajectory while addressing emerging challenges such as credit quality pressures and intensifying competition in the fintech space.