HDFC Bank sends two names for MD post to RBI
What's the story
HDFC Bank's board has proposed two candidates to the Reserve Bank of India (RBI) for the position of Managing Director and Chief Executive Officer (MD & CEO). The decision comes after Sashidhar Jagdishan's announcement that he will not seek re-appointment. The bank has suggested Jimmy Tata, its current Chief Credit Officer, as a whole-time director and executive director for three years.
Leadership changes
Rangan's reappointment and new director position
Along with Tata, the board has also proposed the reappointment of V. Srinivasa Rangan as a whole-time director or executive director from November 23, 2026 to November 22, 2027.
Rangan currently heads HR, corporate legal, and group oversight functions, among others.
The bank is also creating an additional whole-time director position to improve oversight and succession planning.
Board decisions
Regulatory approvals required for appointments
The proposals were approved at a board meeting on September 12, 2026. The appointments are subject to regulatory approvals.
HDFC Bank said none of the candidates are related to each other or any other director/key managerial personnel of the bank.
They are also not debarred from holding the office of a director under any SEBI order or any other authority.