HDFC Bank names Anup Bagchi as CEO for a 3-year term
The Reserve Bank of India approved the appointment of the banking veteran through October 2029.
India's HDFC Bank confirmed in a regulatory filing on October 1, 2026, that the Reserve Bank of India approved the appointment of Anup Bagchi as Managing Director and CEO. The approved tenure spans three years, running from October 27, 2026, to October 26, 2029.
The central bank's decision followed a submission by HDFC Bank on September 12, 2026, which put forward two shortlisted candidate names for the top leadership role.
Bagchi brings 30 years of experience across the financial services industry. He previously served for six years as Executive Director at ICICI Bank from 2017 to 2023, where the retail mortgage portfolio crossed 200,000 crore Indian rupees under his leadership.
He subsequently led ICICI Prudential Life Insurance. In fiscal year 2025, the insurer reported an Annualised Premium Equivalent of 10,407 crore Indian rupees, marking a 15% increase year-over-year. The company's profit after tax rose 40% to 1,189 crore Indian rupees during the same period.
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