Anup Bagchi to steer HDFC Bank as RBI gives nod
The Reserve Bank of India has approved Anup Bagchi as the new Managing Director and CEO of HDFC Bank, effective October 2026. Bagchi, a veteran financial professional, will succeed Sashidhar Jagdishan to lead the bank through governance and market challenges.
Why it matters
As the leader of India's largest private-sector lender, Bagchi's appointment is critical for maintaining investor confidence and navigating the bank's future growth.
The Reserve Bank of India (RBI) has approved the appointment of Anup Bagchi as Managing Director & CEO of HDFC Bank for three years from October 27, 2026.
The bank’s board, at its October 1 meeting, approved his appointment as an Additional Director from October 2 until shareholder approval. Mr. Bagchi was among two candidates recommended to the regulator, alongside HDFC Bank’s existing Deputy MD Kaizad M. Bharucha, after incumbent MD & CEO Sashidhar Jagdishan opted out of a fresh term.
Mr. Bagchi, a seasoned financial-services professional with more than three decades of experience, has worked across banking, capital markets, wealth management and insurance. A veteran of the ICICI Group since 1992, he has held senior roles spanning treasury, retail and wholesale banking, investment banking and digital financial services.
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