Anup Bagchi Takes Charge as HDFC Bank MD and CEO
Anup Bagchi succeeds Sashidhar Jagdishan as the bank's managing director and chief executive.
Key Takeaways
- Anup Bagchi took charge as HDFC Bank MD and CEO on 27 October 2026.
- He succeeds Sashidhar Jagdishan, whose term ended on 26 October 2026.
- His term is three years from 27 October 2026, with RBI approval reported.
- He was earlier MD and CEO of ICICI Prudential Life Insurance.
- He is the first outsider to lead HDFC Bank.
Anup Bagchi has taken charge as managing director and chief executive officer of HDFC Bank, a day after Sashidhar Jagdishan completed his tenure. The change took effect on 27 October 2026.
Jagdishan left office at the close of business on 26 October 2026. Bagchi, who was most recently MD and CEO of ICICI Prudential Life Insurance, is the first person from outside the bank to lead it in its more than three decades of history.
HDFC Bank's leadership change at a glance
| Detail | Value |
|---|---|
| New MD and CEO | Anup Bagchi |
| Took charge | 27 October 2026 |
| Predecessor | Sashidhar Jagdishan |
| Predecessor's last day | 26 October 2026, at the close of business |
| Term | Three years from 27 October 2026 |
| Regulator approval | Approved by the Reserve Bank of India (RBI) |
| Previous role | MD and CEO, ICICI Prudential Life Insurance |
How the handover to Bagchi was set up
HDFC Bank announced the appointment on 1 October 2026 through a stock exchange filing. The bank said Bagchi would be appointed for three years with effect from 27 October 2026, and that he would join the board as an additional director from 2 October 2026. The board's approval was subject to shareholder approval.
Reports from the same day said the RBI had approved Bagchi's appointment as MD and CEO for three years. Jagdishan's term as MD and CEO ended on 26 October 2026.
| When | What happened |
|---|---|
| 1 October 2026 | HDFC Bank announces Anup Bagchi as its next MD and CEO for three years, with RBI approval reported |
| 2 October 2026 | Bagchi joins the HDFC Bank board as an additional director |
| 26 October 2026 | Sashidhar Jagdishan's term ends at the close of business |
| 27 October 2026 | Bagchi takes charge as MD and CEO |
What Bagchi brings from the ICICI Group
Bagchi comes from the ICICI Group. Before joining HDFC Bank he was managing director and chief executive officer of ICICI Prudential Life Insurance.
How HDFC Bank described Jagdishan's tenure
In its announcement of the change, HDFC Bank said Jagdishan's leadership had strengthened the bank's performance and culture.
Where HDFC Bank's leadership stands after the change
With the change, HDFC Bank has a new MD and CEO from 27 October 2026 for a three-year term. Bagchi is the first outsider to head the bank, and he succeeds Sashidhar Jagdishan, whose term ended on 26 October 2026. His appointment followed approval from the RBI.
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Frequently Asked Questions
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