HDFC Bank Ltd. has informed the Reserve Bank of India (RBI) of two potential candidates for the role of managing director and chief executive officer. The bank's submission, made on September 12, 2026, includes the candidates' names in order of preference and their proposed remuneration for a three-year term, pending RBI approval.
The bank did not publicly identify the specific individuals nominated for the top leadership position. This move follows the recent decision by current CEO Sashidhar Jagdishan not to seek re-appointment. Industry sources, however, suggest that internal candidate Kaizad Bharucha, the current Deputy Managing Director, is among those considered.
The selection process for the new MD & CEO is a critical step in the bank's leadership transition, especially given recent changes and proposed board reshuffles within HDFC Bank. The RBI's approval will be the final step in confirming the new head of India's largest private lender.
