HDFC Bank seeks reappointment for Sashidhar Jagdishan after legal clearance
HDFC Bank's board is looking to reappoint Sashidhar Jagdishan as CEO for a third term, after legal reviews cleared him of concerns raised by the former chairman.
His current term ends in October, but the final call still depends on getting a green light from the Reserve Bank of India (RBI).
HDFC Bank shortlists 5 chairman candidates
External legal experts found no substance in the former chairman's allegations against Jagdishan, and records backed up their findings.
While this boosts his chances, analysts say RBI might still weigh issues like HDFC Bank's high loan-to-deposit ratio from its merger with HDFC Ltd.
On another note, the bank is also searching for a new nonexecutive chairman, with five candidates shortlisted and three to be referred to the RBI, and interim part-time chairman Keki Mistry staying on until September.