Anup Bagchi Appointed HDFC Bank MD and CEO, the First Outsider to Lead the Bank

1 October 2026National

HDFC Bank's board has appointed Anup Bagchi as Managing Director and CEO for a three-year term effective 27 October 2026, after the Reserve Bank of India cleared the name. Bagchi succeeds Sashidhar Jagdishan, whose second term ends on 26 October, and becomes the first external candidate to head India's largest private sector bank. He joins from ICICI Prudential Life Insurance, where he had been MD and CEO since June 2023, and has spent over three decades in the ICICI group, including spells as ICICI Securities MD and an ICICI Bank executive director. Rajiv Kumar took over as the bank's part-time chairman in July 2026.

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HDFC Bank was incorporated in 1994 and is headquartered in Mumbai; it is India's largest private sector bank by assets | Its part-time chairman is Rajiv Kumar, approved by the RBI in July 2026 | Approval for a private bank's MD and CEO is granted by the RBI under the Banking Regulation Act, 1949

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