HDFC Bank Share Price Surges; Two Names Submitted to RBI for MD and CEO Role

HDFC Bank has submitted the names of two candidates to the Reserve Bank of India (RBI) for the post of Managing Director (MD) and CEO, as per exchange filing.  

The bank’s board has ranked the candidates by preference, but has not disclosed their names. The development comes ahead of Sashidhar Jagdishan’s retirement in October 2026. Jagdishan is currently the lender’s MD and CEO and is due to step down later this year. 

Three-Year Term 

The new MD and CEO will be appointed for a three-year term. HDFC Bank’s board submitted the two names to the RBI on September 12, 2026, as part of the appointment process. 

RBI clearance is required for the appointment of managing directors and CEOs at private-sector banks. The regulator will now consider the names submitted by the lender. 

Leadership Changes After Chairman’s Exit 

The CEO selection follows governance concerns that emerged in March 2026, after former part-time chairman Atanu Chakraborty resigned. 

Chakraborty said some practices at the bank did not match his personal values and ethics. His resignation was followed by a sharp fall in HDFC Bank’s shares. 

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Jagdishan’s Successor 

The two names submitted to the RBI mark the first formal step in choosing Jagdishan’s successor. HDFC Bank has not said which candidate is its first choice or identified the two people. 

The appointment will depend on the RBI’s approval, with Jagdishan’s retirement scheduled for October. 

Read More: Suzlon Energy Share Price in Focus as 31st AGM Passes Key Resolutions on Financial Statements, Director Reappointment! 

HDFC Bank Share Price Performance  

As of September 15, 2026, 11:28 am, HDFC Bank share price was trading at ₹721.10, up 1.81% from the previous closing price. 

Conclusion  

The bank has moved ahead with the CEO succession process by sending two names to the RBI. The candidates’ identities have not been officially disclosed. 

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