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Sashidhar Jagdishan will step down as managing director and chief executive of HDFC Bank on 26 October, ending months of speculation over the leadership of India's largest private-sector lender.
The bank told the exchanges on Saturday that its board had taken note of Jagdishan's communication that he did not wish to seek reappointment. The board attempted to persuade him to reconsider; he reiterated the decision. He will retire at the close of business on 26 October 2026, the day his second term ends.
Sources aware of the discussions said Jagdishan told the board he wanted a new leader to take charge with a clean slate, now that the issues clouding the bank over the past five to six months had been addressed. Among them, the board issued warning letters and imposed penalties of INR1 lakh each on Jagdishan, chief financial officer Srinivasan Vaidyanathan and retail assets head Arvind Vohra.
4 reports filed for Monday 31 August 2026, compiled from company statements, registry filings and StartupFox reporting. Figures marked reported were not confirmed by the companies named.
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