HDFC Bank Gets a New Boss: Anup Bagchi to Take Over as MD and CEO

HDFC Bank has appointed Anup Bagchi as its new CEO and Managing Director. Let us find out who Anup Bagchi is and what responsibilities he will be handling at the bank.

The beginning of October has brought about numerous changes. From the prices of everyday commodities to developments in the banking sector, this month has seen significant shifts. One major change has occurred at HDFC Bank, where Anup Bagchi is set to take over the management.

This decision was announced on October 1, confirming Anup Bagchi’s appointment as the CEO and Managing Director of HDFC Bank. The Reserve Bank of India (RBI) has also granted its approval for this appointment.

Date of Taking Charge

Anup Bagchi will assume the role of MD and CEO on October 27, 2026. Currently, Sashidhar Jagdishan holds the position of MD and CEO. His tenure concludes on October 27, 2026, after which Anup will take over the post. Jagdishan has not applied for an extension of his tenure so far.

HDFC Bank had submitted two names to the RBI for this position. Apart from Anup Bagchi, the list included the bank’s Deputy MD, Kaizad Bharucha. The RBI has approved Bagchi’s appointment and his remuneration.

Who is Anup Bagchi?

Anup Bagchi possesses over 30 years of experience in the banking and financial sector. He has been associated with the ICICI Group since 1992. During this time, he has worked in areas such as treasury, retail banking, wholesale banking, investment banking, and digital financial services. Bagchi has previously served as the MD and CEO of ICICI Securities. He has also served as an Executive Director at ICICI Bank. Currently, he is the MD and CEO of ICICI Prudential Life Insurance.

During his tenure as Executive Director at ICICI Bank from 2017 to 2023, he oversaw retail, business, and rural banking operations. His focus during this period was on expanding the bank’s retail business and improving profitability. It was also during this time that ICICI Bank’s retail mortgage portfolio crossed the ₹2 lakh crore mark.