<p>The country's biggest private sector lender HDFC Bank on Tuesday said the Reserve Bank has approved the re-appointment of its managing director Sashidhar Jagdishan for a period of three years with effect from October 27.</p>.<p> Jagdishan was appointed the MD and CEO of the bank in 2020 in place of Aditya Puri, the founder CEO of the bank.</p>.<p> The RBI vide its communication dated September 18, 2023, "has approved the re-appointment of Sashidhar Jagdishan as the Managing Director and Chief Executive Officer of the Bank for a period of 3 years with effect from October 27, 2023 to October 26, 2026," the bank said in a regulatory filing.</p>.States shifting to old pension scheme major step backwards, fiscally unsustainable: RBI article.<p>The board of the bank will be convened in due course to give effect to the above-mentioned appointment, it said.</p>.<p>Jagdishan's extension comes months after the merger of parent HDFC Ltd with HDFC Bank, creating the second-biggest bank in the country after State Bank of India.</p>.<p>The merger became effective from July 1, 2023, leading to winding up of the 44-year-old institution HDFC Ltd.</p>.<p>Termed as the biggest transaction in the history of India Inc, HDFC Bank on April 4, 2022, agreed to take over its parent, which is the largest pure-play mortgage lender, in a $40-billion all-stock deal, creating a financial services titan with a combined asset of over Rs 18 lakh crore.</p>.<p>HDFC Bank became 100 per cent owned by public shareholders post-merger. As a result of the merger, shareholders of HDFC own 41 per cent of the bank as every HDFC shareholder got 42 shares of HDFC Bank for every 25 shares they had. </p>
<p>The country's biggest private sector lender HDFC Bank on Tuesday said the Reserve Bank has approved the re-appointment of its managing director Sashidhar Jagdishan for a period of three years with effect from October 27.</p>.<p> Jagdishan was appointed the MD and CEO of the bank in 2020 in place of Aditya Puri, the founder CEO of the bank.</p>.<p> The RBI vide its communication dated September 18, 2023, "has approved the re-appointment of Sashidhar Jagdishan as the Managing Director and Chief Executive Officer of the Bank for a period of 3 years with effect from October 27, 2023 to October 26, 2026," the bank said in a regulatory filing.</p>.States shifting to old pension scheme major step backwards, fiscally unsustainable: RBI article.<p>The board of the bank will be convened in due course to give effect to the above-mentioned appointment, it said.</p>.<p>Jagdishan's extension comes months after the merger of parent HDFC Ltd with HDFC Bank, creating the second-biggest bank in the country after State Bank of India.</p>.<p>The merger became effective from July 1, 2023, leading to winding up of the 44-year-old institution HDFC Ltd.</p>.<p>Termed as the biggest transaction in the history of India Inc, HDFC Bank on April 4, 2022, agreed to take over its parent, which is the largest pure-play mortgage lender, in a $40-billion all-stock deal, creating a financial services titan with a combined asset of over Rs 18 lakh crore.</p>.<p>HDFC Bank became 100 per cent owned by public shareholders post-merger. As a result of the merger, shareholders of HDFC own 41 per cent of the bank as every HDFC shareholder got 42 shares of HDFC Bank for every 25 shares they had. </p>