HDFC Bank Share Price in Focus; Appoints Anup Bagchi As MD & CEO From October 27, 2026

Anup Bagchi will take over as Managing Director and Chief Executive Officer of HDFC Bank from October 27, 2026, according to an exchange filing dated October 1, 2026.  

His appointment follows the completion of Sashidhar Jagdishan’s tenure, which ends at the close of business on October 26. The Reserve Bank of India approved Bagchi’s appointment on October 1 under Section 35B of the Banking Regulation Act, 1949.  

The approval covers a three-year term, running until October 26, 2029.  

HDFC Bank Board Approves Appointment 

HDFC Bank’s board approved the appointment at its meeting on October 1, following a recommendation from the Governance, Nomination, and Remuneration Committee. 

Bagchi will be appointed as an Additional Director of the bank from October 2. This will continue until shareholder approval. His appointment as MD & CEO is also subject to approval by shareholders under the Companies Act, 2013. 

The bank’s disclosure states that the terms of Bagchi’s appointment, including remuneration, have been approved by the RBI. He will not be liable to retire by rotation during his term as MD & CEO.  

Three Decades with ICICI Group 

Bagchi has spent more than three decades in financial services. He joined the ICICI Group in 1992 and has worked in areas including treasury, retail banking, wholesale banking, investment banking, and digital financial services. 

He served as Executive Director of ICICI Bank from 2017 to 2023, handling retail, business, rural and later wholesale banking. During this period, ICICI Bank’s retail mortgage portfolio crossed ₹2 trillion. 

Role At ICICI Prudential Life 

Bagchi has been MD & CEO of ICICI Prudential Life Insurance since June 2023. In FY2025, the company’s Annualised Premium Equivalent rose 15% year-on-year to ₹10,407 crore, while profit after tax increased nearly 40% to ₹1,189 crore.  

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HDFC Bank Share Price Performance 

As of October 1, 2026, 3:30 pm, HDFC Bank share price closed at ₹721.20, a 1.76% increase from the previous closing price. 

Conclusion 

The leadership change at HDFC Bank will take effect after Jagdishan completes his tenure. Bagchi’s three-year term is scheduled to begin on October 27, subject to shareholder approval. 

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