Anup Bagchi takes charge as MD & CEO of HDFC Bank
Why in the news
Anup Bagchi took charge as Managing Director and CEO of HDFC Bank on 27 October 2026, as disclosed by the bank in a stock exchange filing.
Key facts
- New MD & CEO: Anup Bagchi, effective 27 October 2026.
- Predecessor: Sashidhar Jagdishan, who vacated office at close of business on 26 October 2026. The bank had informed exchanges on 29 August 2026 that he would not seek reappointment.
- Tenure: Three years, until 26 October 2029, approved by the Reserve Bank of India (RBI) and subject to shareholder approval.
- The board had inducted him as an Additional Director from 2 October 2026.
- Kotak Mahindra Bank: RBI approved Anup Kumar Saha as MD & CEO for three years from 1 January 2027. He replaces Ashok Vaswani, whose term ends on 31 December 2026.
| Bank | New MD & CEO | Replaces | Term begins |
|---|---|---|---|
| HDFC Bank | Anup Bagchi | Sashidhar Jagdishan | 27 October 2026 |
| Kotak Mahindra Bank | Anup Kumar Saha | Ashok Vaswani | 1 January 2027 |
About Anup Bagchi
- Has worked with the ICICI Group since 1992.
- Served as Executive Director of ICICI Bank from 2017 to 2023, handling wholesale banking, transaction banking and markets.
- Was MD & CEO of ICICI Prudential Life Insurance and earlier headed ICICI Securities.
- Alumnus of IIT Kanpur (engineering) and IIM Bangalore (management).
Exam angle
- Appointments of MD & CEO at these private banks needed RBI approval and remain subject to shareholder approval.
- Remember the pairs: HDFC Bank – Anup Bagchi; Kotak Mahindra Bank – Anup Kumar Saha (from January 2027).
- Ashok Vaswani had succeeded Uday Kotak at Kotak Mahindra Bank in January 2024.