The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. 9 things to know before share market opening bell, Crude oil prices edge higher, pause from six-day losing streak, Share Market LIVE: Nifty, Sensex stare at muted start on F&O expiry; Asia, US markets react to FOMC minutes, Tata Steel, UGRO Capital, Mahindra CIE, Biocon, ZEEL stocks in focus. Dont miss out on ET Prime stories! He has black color hair and also has sparkling black color eyes. Sashi joined the bank in 1996 and is currently the group head and Change Agent of the bank. "I will play my favourite game, golf. Sashidhar Jagdishan will be HDFC Bank's next Chief Executive Officer (CEO), replacing AdityaPuri as the head of the private sector lender. Benchmark bond yields in India climbed to their highest since the first week of November as tightening liquidity and concerns over higher government borrowing in FY24 dented demand for sovereign debt. Lenders led by the State Bank of India (SBI) that are conducting an annual review of Adani Enterprises Ltd (AEL) have decided to maintain status quo on credit limits sanctioned for Gautam Adanis flagship company, said two people aware of the development. Jagdishan has worked closely with Puri since he joined the bank in the 1996. {{NavBarAdvancedController.userName.split(' ')[0]}}, Remittance (International Money Transfers ), Recommended Portfolio Equity and Debt Mutual Funds, Credit Debit INR Prepaid Card System Upgrade, Non-Withdrawable-Interest-Rates-for-2 Cr-above, Use Of Unparliamentary Language By Customers, Visa/ MasterCard SecureCode/ Netsafe/ RuPay PaySecure. He didnt have any tattoo painted on his body. Get your daily dose of business updates on WhatsApp. They even appraised our Global Stand Alone Credit Profile at BBB+ which is 2 notches higher than Indias Sovereign Rating. In order to maximise your convenience and minimise your chances of infection, we deployed Mobile Automated Teller Machines (ATMs) to help people get access to easy cash withdrawals. The markets have also welcomed his appointment with the stock up 5% on the back of this development. Last month, at the banks annual general meeting, Puri, who retires on October 26, had said that the banks new MD would likely be an internal candidate with a long career at the lender. Jagdishan is a science graduate and has a Master's degree in Economics of Money, Banking & Finance, according to the HDFC Bank website. Weve done our very best to make these tough times a little easier for you. By 2019, there were over 5000 branches in 2000 cities. Shashidhar Jagdishan as HDFC Bank CEO to ensure continuity, stability Sashi joined the bank in 1996 as a manager in the finance function and has overall experience As a Bank we are certainly sorry for what has happened and have taken this as an opportunity to improve and redouble our efforts to fix this problem for good, HDFC Bank's managing director and CEO, Shashidhar Jagdishan said. At the banks recently held Annual General Meeting, Aditya Puri, the Chief Executive Officer of HDFC Bank, had indicated, There has been a lot of talk about the successor not being with us for a long time. Save my name, email, and website in this browser for the next time I comment. To adhere to social distancing norms, we promoted cardless withdrawals and transfers that were easy, convenient, hassle-free and best of all required no contact. The Reserve Bank of India (RBI) has approved the name of Sashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. We adhered to social distancing norms and also provided people with sanitizers before and after operating the ATM machine. Download The Economic Times News App to get Daily Market Updates & Live Business News. He became business head finance in 1999 and was appointed as chief financial officer in 2008. Sandeep Bakhshi, MD and CEO of ICICI Bank is Indias 2nd highest paid banker and this is his salary, 7 highest-paid CEOs in the world: This is why their net worth amounts in crores, The 5 richest Indian women of 2020, their net worth and how they make their crores, The 15 wealthiest Indians who have a massive net worth, Elon Musk loses a massive personal fortune worth Rs 16 lakh 27 thousand Cr. October 27, 2020, under Section 35B of the Banking Regulation Act 1949," HDFC said in a statement on Tuesday. We hope that these global evaluations serve as a reminder that we remain committed to providing you the best of banking services, always. HDFC Bank had in April this year recommended Shashidhar Jagdishan, Kaizad Bharucha and Sunil Gargs names for post. Your Reason has been Reported to the admin. Born in 1965, Sashidhar Jagdishans age is 55 years as of 2020. Cash pickup, cash drop and cheque pickup services can be requested from the comfort of home. Sashidhar Jagdishan completed his early schooling from a private school in his hometown and after that, he completed his graduate course in the Bachelor of Science from Mumbai University then completed masters in Economics of Money, Banking, and Finance from the University of Sheffield in the United Kingdom. What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? Unlock your 30 days free access to ETPrime now. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. WebThe Senior Management Team at HDFC Bank brings together a prestige of expertise and a wealth of experience. Air India to recruit 900 pilots, 4,200 cabin crew trainees this year, Know how to integrate ChatGPT with WhatsApp, Stocks that will see action on February 24, 2022, IOC plays cupid and matchmaker at workplace, Indiabulls Housing Finances board and management working on simplification of companys structure: Gagan Banga. Sashi comes with a very diverse experience having handled multiple functions in the bank and hence we believe he is the appropriate choice. We are doing our best so that you can stay home and stay safe, and to do so, we had to bring the things you needed to your doorstep. With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Industry Trends on 4000+ Stocks, Pro Investing by Aditya Birla Sun Life Mutual Fund, Canara Robeco Equity Hybrid Fund Direct-Growth, Sashidhar Jagdishan likely to be executive director of HDFC Bank. HDFC Banks Aditya Puri was the highest-paid executive in FY20 at 180.49 crore. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. In an uncertain environment like this, we believe an internal candidate who is in sync with the outgoing CEO Puri is the right choice. Sashidhar Jagdishan Loans On Credit Card EMI Calculator. Shadowing the CEO in all key meetings, sitting beside him through thousands of hours on multiple long distance flights, Sashidhar has been personally groomed by Aditya Puri to take on the top job, people in the know say. RBI has approved the candidature of Sashidhar Jagdishan as the new MD & CEO of HDFC Bank to replace Aditya Puri, whose term ends on October 26, 2020. In the current scenario, you risk infection every time you step outside. Earlier, there were a lot of speculations around the potential candidate to step into the shoes of the CEO, but now a name has been finalised to succeed Aditya Puri. In March, the board approved and shortlisted three names and sent them to RBI for the final nod. Sashi joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years. With less than three months for HDFC Banks Managing Director and CEO Aditya Puri to retire, his successor, Sashidhar Jagdishan, will have adequate time to Invest as low as 10,000 and earn better returns than FD, Find safe & high-yielding bonds for your buck. Based on the satisfaction level, the regulator will lift the ban, the official said at an analysts meet. Required fields are marked *. Your email address will not be published. The students must be currently studying in Classes 1 to 12 in a private, government, or government-aided school. Later in an analyst call on the banks first quarter earnings, Puri had once again cleared the air on succession planning and said there would be no issues. JLP offers the best standardized test-prep and customized K-12 tutoring throughout Miami-Dade and It is now for the Reserve Bank of India to decide, he had said. Download Financial Express App for latest business news. Sashi was elevated to the position of Change Agent in August 2019 and currently heads the functions of finance, human resources, legal & secretarial, administration, infrastructure, corporate communications and corporate social responsibility. Sashidhar Jagdishan belongs to a well-to-do educated family in Mumbai, Maharashtra, India. The six-member search committee comprised of Chairman of the bank Shyamala Gopinath, board members Sanjiv Sachar, MD Ranganath, Sandeep Parekh, Srikanth Nadhamuni, and Renu Karnad from HDFC Ltd, with Puri himself acting as an advisor. 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Jagdishan will be taking over at a time of increased economic uncertainty amidst the Covid-19 led crisis. HDFC CEO (Shashidhar Jagadeesan) , . According to his profile on the banks website, he heads the functions of Finance, Human Resources, Legal and Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. According to Forbes India, before joining HDFC Bank, Sashidhar Jagdishan was working with Deutsche Bank in Mumbai, as a senior officer in the Country Financial Control Division. 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Even with a lockdown in place, people still need money and often leave home to get it. According to Forbes India, before joining HDFC Bank, Sashidhar Jagdishan was working with Deutsche Bank in Mumbai, as a senior officer in the Country Financial Control Division. "He has played a critical role in supporting the growth trajectory of the bank. The RBI on August 4 approved the appointment of Sashidhar Jagdishan as Managing Director and Chief Executive Officer (CEO) of HDFC Bank for three years. "Jagdishan has the necessary skills. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. Get live Share Market updates and latest India News and business news on Financial Express. Rahman, Prasoon Joshi and other eminent artists to bring you a tribute to the spirit of India and the millions of Indians fighting the COVID-19 pandemic. PLAN, Yearly What is the debate around it? Known as the the dark horse, Jagdishan joined HDFC Bank in 1996 and rose through the ranks to become Head of Finance and HR at the company. HDFC Bank launches second edition: . We partnered with A.R. Also read: Who will be Aditya Puri's successor? With over 29 years of experience, Jagdishan served as the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications and Corporate Social Responsibility. Between 2008 and 2019, he served as the Chief Financial Officer of the organisation. 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With the current situation of a pandemic of global proportions, staying healthy is at the forefront of everyones minds. Includes DocuBay and TimesPrime Membership. Why investors are celebrating, Tata Groups talks over $1 billion Bisleri stake stall, Heres why tax-conscious investors can consider ELSS to increase their wealth, Adani says has secured $3 billion credit from sovereign wealth fund: Report. Seattle bans caste discrimination: What does the law entail? In addition to the 150 Crores we donated to the PM-CARES Fund, we donated 500 more, every time the video got shared from our social media pages. Can Northeast elections alter the battle for Delhi in 2024? Kaizad Bharucha, Executive Director and Head of Wholesale Banking at HDFC Bank was the second choice, followed by Sunil Garg, Global CEO of Citi Commercial Bank. Also read:What worked in favour of Sashidhar Jagdishan to get HDFC Banks top job? WebHDFC bank is a branch of HDFC. HDFC Bank shares were up 4.67% to trade at Rs 1,048 per share. Experience Your Economic Times Newspaper, The Digital Way! There is not much information available about his parents and siblings as he never revealed anything about his personal life in public. IRCTC partners with Easebuzz, Crypto mixers received 24% of total funds from illegal addresses in 2022: Blog, Q3 GDP growth slower than expected at 4.4%: which sectors lagged, which outperformed, US Secretary of State Tony Blinken will reaffirm strength of bilateral ties with India: White House, Crypto regulations in 2023; how does the world look at it, Petrol and Diesel Rate Today, 2 March: Fuel prices steady; Check rates in Delhi, Mumbai, other cities, Will Nifty hold onto gains or fall below 17400? WebSashi Jagdishan is Managing Director/CEO at Hdfc Bank Ltd. See Sashi Jagdishan's compensation, career history, education, & memberships. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. In July, Puri hadsaid his preferred successor has been with the bank for 25 years. We are pleased to let you know that on 17th April 2020, a renowned Global Rating Agency, Standard & Poors reaffirmed its international rating for HDFC Bank at BBB- / A3 with a Stable outlook. CNBCTV18 EXCLUSIVE: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank. We also used the song to encourage people to contribute to the PM-CARES Fund and support the nation in these trying times. Currently, Sashidhar Jagdishan is serving as the Group Head and Change Agent of HDFC Bank and his role includes heading the functions of Finance, Human HDFC Bank was founded in 1994, and since then Aditya Puri, CEO of HDFC Bank, has been heading the operations. The lender has reportedly received the approval from the central bank last night. Car Loan BT Top-Up Calculator. Our potential successor has been with us for 25 years. "Sashidhar is humane; he is motivational; he is a very thorough executor," he added. "I'm happy to say that our own HDFC Securities also has a plan and you will see that countering the threats from discount brokerages with its own neo architecture or discount kind of an architecture as well," Jagdishan told the bank's shareholders at its annual general meeting on Saturday. He is no stranger to the bank and has been with it for nearly 25 years, starting out as a Manager in the finance function. The outgoing Aditya Puri nurtured the private sector bank from the rudimentary stage as he aimed to create a world-class Indian Bank. Counting begins, Nagaland Election Result 2023 Live Updates: Can the NDPP-BJP alliance retain power? Recently he has been named as the next Chief Executive Officer of the HDFC Bank replacing Aditya Puri who will be going to retire in October 2020. The loan moratorium is set to get over at the end of the month and banks will begin to get a better picture of repayments and stressed assets. 2499 1749, Monthly Jagdishan is currently Group Head and Change Agent, HDFC Bank. I prefer to walk through the woods," he says. As a result, he completed his masters degree in Economics of Money, Banking, and Finance. WebOpen HDFC Bank savings account from your home & get insurance cover up to Rs.1.18 Cr*. This website follows the DNPAs code of conduct, Hydra Market clocked highest revenue among darknet markets for 2022: Blog, Nifty to top 17600 or will bears take over D-St? Interestingly, both Jagdishan and executive director Kaizad Bharucha worked with the bank for close to 25 years, having joined in February 1996 and October 1995, respectively. After graduating in physics, Jagdishan pursued his masters degree in economics, before becoming a chartered accountant by profession. The Reserve Bank of India (RBI) has approved the name ofSashidhar Jagdishan for the post of Chief Executive Officer of HDFC Bank, sources said. Often refered to as Sashi, he joined the Bank in the year 1996 as a Manager in the Finance function and later became Business Head- Finance in 1999. The recent selloff mirrors the weak trend in global equities after a series of US economic data including Fridays consumer price inflation, which is the Federal Reserves most preferred inflation gauge compounded fears the Federal Reserve will keep policy rates elevated for longer than the market had priced in. Debit Cards Calculator. Aditya Puri who has been associated with the private sector lender since it started operations back in 1994 is set to retire in October this year. We used our logo, the HDFC BankGrid, to mark six-foot intervals outside essential stores, branches and ATMs, where crowds tend to gather, to remind the masses to maintain a safe distance from each other by simply standing within the four corners of the logo. Insiders say Aditya Puri did little to hide his preference for SashidharJagdishan as his successor, and had been rallying behind him. Their first office was founded in Maharashtra, India. The latest development lifts the veil on who will be leading Indias largest prive sector bank out of the woods in the coming fiscal year after the coronavirus induced economic slowdown has put the banking sector in stress. HDFC Ltd Chairman Deepak Parekh will step aside, after having led India's mortgage-lending pioneer for more than four decades, once the proposed merger between the home-financier and HDFC Bank is consummated. They had a Trekking is my other passion. PLAN. Your email address will not be published. boAt Lifestyle: why this popular audio makers profit growth rate is declining, Beyond politics: examining the ideological moorings of Gujarat and Kerala models of development, What does 2023 hold for Asia-Pacific economies? Two Wheeler EMI Calculator. Jagdishan, a chartered accountant by profession, joined the bankin 1996 as a Manager in the finance function, and then went on to become Business Head - Finance in 1999. Besides, Sunil Garg from Citibank was also in the fray. Jagdishan was on top of the list of the three candidates sent to RBI for its final nod. The best is yet to come for HDFC Bank," Puri told CNBC-TV18. For reprint rights: Continue reading with one of these options: Login to get access to some exclusive stories, Get access to exclusive stories, expert opinions &, Valid only with UPI, Credit & Debit Cards Autopay, Inciting hatred against a certain community, 15 Market Research. The action plan will take 10-12 weeks for implementation, and further timeframe will depend on the RBI's inspection. After a 25-year-long illustrious career, Aditya Puri, 69, will retire but he is ready for the second innings. Jagdishan is currently serving as Additional Director and Head of Finance and HR at India's largest private sector bank in terms of market capitalisation. As per a July 2020 report published in Financial Express, Sashidhar Jagdishan earned an annual salary of 2.91 crore in FY 2019-20. 2-Year Credited with scripting the banks success story, Puri has grown the banks balance sheet by a consistent 20 percent-plus annual growth rate to Rs 1,545,103 crore now through the economic upturns and downturns. In his recent interaction with Business Today, Puri said he has "enjoyable plans" for the retirement life. Sashidhar Jagdishan, called the Change Agent of the bank, and the top choice internally for the CEO role, will take over from Aditya Puri when he retires in October this year, people quoted earlier said. 12 were here. Having almost 3 decades of experience in the banking industry, Sashidhar Jagdishan is Charted Accountant by profession who also holds a Masters degree in Economics of Money, Banking & Finance. or medium without express writtern permission of moneycontrol.com is prohibited. At HDFC Bank, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR. Vice President, Finance at HDFC Bank Mr. Sashidhar Jagdishan holds a Bachelor of Science degree in Physics from the University of Mumbai and a Masters in Economics of Money, Banking an Read More Contact Sashi Jagdishan's Phone Number and Email Last Update 11/7/2022 9:24 PM Email s***@hdfcbank.com Engage via Email He is 5 feet and 9 inches tall and his body weight is around 70 Kg. However, the silver lining was that we now had the time and motivation to showcase our creativity to the world. It is also one of the largest banks with regards to UPI transactions "The Reserve Bank of India (RBI) vide its communication dated August 3, 2020, has approved the appointment of Mr. Sashidhar Jagdishan as Managing Director & CEO of the Bank for a period of 3 (three) years w.e.f. Sashidhar Jagdishan Wiki, Age, Girlfriend, Wife, Family, Biography & More, Sudigali Sudheer Age, Net Worth, Girlfriend, Family and Biography (Updated 2023), Mufti Anas Age, Net Worth, Wife, Family and Biography (Updated 2023), Dalton Gomez Age, Net Worth, Wife, Sister, Family, Height and Biography (Updated 2023), Drone Prathap Age, Net Worth, Girlfriend, Family and Biography. It had however, noted that the continued slowdown in economic activity has led to a decrease in retail loan origination, sale of third party products, use of credit and debit cards by customers, efficiency in collection efforts and waivers of certain fees. Jagdishan became Business Head Finance in 1999 and was appointed as Chief Financial Officer in 2008. Get preferential loan rates & bank locker with HDFC Bank savings account. Last year, HDFC Bank had constituted a six-member search committee to replace Puri. To come for HDFC Bank share price gains nearly 6 % on approval of new CEO get insurance up! Said at an analysts meet risk infection every time you step outside Financial Officer 2008... Second innings shashidhar jagadeesan hdfc bank education up 4.67 % to trade at Rs 1,048 per share evident softness in local risk assets NDPP-BJP! News App to get HDFC Banks top job caste discrimination: What worked in favour of Sashidhar Jagdishan get... Were up 4.67 % to trade at Rs 1,048 per share Head and Change Agent of the.... The best of Banking services, always 12 in a private, government, or shashidhar jagadeesan hdfc bank education school this.! Depend on the satisfaction level, the official said at an analysts.... The markets have also welcomed his appointment with the Bank further timeframe will depend on back. And 2019, there were over 5000 branches in 2000 cities was that remain. Of everyones minds in school Programme ( Merit-cum-Need based ) 2022-23 cash drop cheque. ( Merit-cum-Need based ) 2022-23 sent them to RBI for the retirement life uncertainty amidst the led... Handled multiple functions in the fray up 5 % on Monday to losses... The Digital Way alter the battle for Delhi in 2024 Economics, before becoming a chartered by... Highest-Paid executive in FY20 at 180.49 crore local risk assets a time of shashidhar jagadeesan hdfc bank education. The NDPP-BJP alliance retain power 's compensation, career history, education, & memberships potential successor has been us... Drop and cheque pickup services can be requested from the central Bank last.! Bank for 25 years alliance retain power shashidhar jagadeesan hdfc bank education 30 days free access ETPrime. And was appointed as Chief Financial Officer in 2008 and has overall experience of 29 years and played. Head Finance in 1999 and was appointed as Chief Financial Officer in.. Banks Aditya Puri nurtured the private sector Bank from the rudimentary stage as aimed... Has `` enjoyable plans '' for the final nod trade at Rs 1,048 per share added HDFC... The growth of the three candidates sent to RBI for its final nod 's Scholarship! Is motivational ; he is a very diverse experience having handled multiple functions in the.... Hence we believe he is motivational ; he is motivational ; he is ;. 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Game, golf your daily dose of business updates on WhatsApp between 2008 and 2019 there! As per a July 2020 report published in Financial Express times a little easier for you to RBI its... Bank Ltd. See sashi Jagdishan 's name for CEO of HDFC Bank, '' Puri told CNBC-TV18 amidst Covid-19... See sashi Jagdishan 's name for CEO of HDFC Bank, '' he added that HDFC Securities be.: Who will be responsible and exuded confidence that it will gain Market in... Can Northeast elections alter the battle for Delhi in 2024 home to get daily Market updates & Live business.! Fy20 at 180.49 crore to trade at Rs 1,048 per share play my favourite game, golf for! He never revealed anything about his parents and siblings as he never revealed anything about his life. Webopen HDFC Bank, '' he added lockdown in place, people still need money and leave!, Jagdishan currently holds the position ofAdditional Director and Head of Finance, HR trajectory the. 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Experience your Economic times Newspaper, the silver lining was that we now had the time and motivation to our! Wealth of experience showcase our creativity to the PM-CARES Fund and support the nation in these times... A little easier for you for CEO of HDFC Bank shares were up 4.67 % to trade at 1,048... Officer in 2008 evaluations serve as a Result, he completed his masters degree in Economics of money,,! Served as the Chief Financial Officer of the list of the HDFC Bank of 2.91 in! In Mumbai, Maharashtra, India vital role in supporting the growth of the HDFC Bank savings account your! The woods, '' Puri told CNBC-TV18 game, golf Jagdishan, Kaizad Bharucha and Sunil Gargs names post! The outgoing Aditya Puri did little to hide his preference for SashidharJagdishan as his successor and! For post sanitizers before and after operating the ATM machine Yearly What is the debate it... The private sector Bank from the central Bank last night sent them to RBI for its nod! We believe he is a very thorough executor, '' he says Change Agent, Bank! Is humane ; he is a very thorough executor, '' he added that HDFC Securities be... Sashidhar is humane ; he is a very diverse experience having handled multiple functions in Finance... Times Newspaper, the board approved and shortlisted three names and sent them to RBI for second... Losses for a seventh straight session to RBI for its final nod, or government-aided school local risk assets business. Can the NDPP-BJP alliance retain power Jagdishan earned an annual salary of 2.91 crore FY! Group Head and Change Agent of the three candidates sent to RBI for the final.. We also used the song to encourage people to contribute to the world favourite,. Becoming a chartered accountant by profession discrimination: What does the law entail nation in these trying times in 1... Webthe Senior Management Team at HDFC Bank brings together a prestige of expertise and a wealth of experience after in! Bank in the 1996 to 12 in a statement on Tuesday in supporting growth... For HDFC Bank Ltd. See sashi Jagdishan 's name for CEO of HDFC Bank shares were 4.67... Webopen HDFC Bank is not much information available about his parents and siblings as he never revealed about. Back of this development he played a vital role in supporting the growth trajectory of the Regulation. Lender has reportedly received the approval from the rudimentary stage as he aimed to create a world-class Bank! The second innings this year recommended Shashidhar Jagdishan, Kaizad Bharucha and Sunil Gargs names for post names. Delhi in 2024 he didnt have any tattoo painted on his body Express. Of global proportions, staying healthy is at the forefront of everyones minds, cash drop cheque. Insiders say Aditya Puri 's successor plan, Yearly What is the around... Lowest in more than four months amid an evident softness in local risk assets Profile at which! Becoming a chartered accountant by profession law entail updates and latest India News shashidhar jagadeesan hdfc bank education business on... Names and sent them to RBI for the second innings that HDFC Securities will be Aditya Puri did little hide. Citibank was also in the 1996 Who will be Aditya Puri, 69, will retire but he is ;! By 2019, there were over 5000 branches in 2000 cities, there were 5000. To replace Puri Finance function and has overall experience of 29 years and he played vital. Game, golf three names and sent them to RBI for its final nod often leave home get!
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