HDFC Bank deputy MD seeks to step down on Dec 31
HDFC Bank Deputy Managing Director Kaizad Bharucha has requested to resign from his position at the bank by December 31, 2026, according to an exchange filing. This follows the Reserve Bank of India's approval for Anup Bagchi to succeed Sashidhar Jagdishan as managing director and chief executive. Bharucha, one of the bank's longest-serving executives, had been a candidate for the CEO position but faced a 15-year tenure limit.
He had been a whole-time director at HDFC Bank since June 2014, reaching the 15-year limit in June 2029. Had he been appointed CEO after Jagdishan's term ended on October 26, he would not have completed a full three-year term without regulatory relaxation. The bank's board accepted Bharucha's request on October 17 and will forward it to the RBI for approval.
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Also reported by 1 other outlet
- Kaizad Bharucha to exit HDFC Bank at end of December after three decades business-standard.com
