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BIZARRE: 2 | Mind Blowing Facts

HDFC Bank's highest-paid execs in FY26: Deputy MD Bharucha takes home ₹17.14 cr while MD & CEO Jagdishan receives ₹15.13 cr

HDFC Bank executives saw salary increases in fiscal year twenty twenty-six. Deputy Managing Director Kaizad Bharucha earned seventeen point one four crore rupees. This total remuneration surpassed CEO Sashidhar Jagdishan's fifteen point one three crore rupees. Performance-linked variable pay significantly boosted their overall compensation packages. Executive Director V. Srinivasa Rangan…

The Economic Times · Jul 13

HDFC Bank ex-chairman Atanu Chakraborty's FY26 earnings rise 3.5% despite early exit

Atanu Chakraborty's earnings rose to Rs 1.07 crore in FY26, as per HDFC Bank disclosures. He resigned as chairman citing ethical concerns, which raised governance questions. The bank appointed external law firms to review Chakraborty's statement. These firms found no substantiation for his claims after reviewing records. Chakraborty attended all…

The Economic Times · Jul 11

HDFC Bank MD: Chakraborty's abrupt exit a 'challenging event' that raised governance questions

HDFC Bank MD Sashidhar Jagdishan addressed chairman Atanu Chakraborty's resignation and governance questions. External law firms reviewed Chakraborty's statement, finding it unsubstantiated by records and interviews. The bank welcomed new chairman Rajiv Kumar, noting his financial sector reform experience. Jagdishan assured shareholders of the bank's commitment to strong corporate governance…

The Economic Times · Jul 11

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HDFC Bank appoints former financial services secretary Rajiv Kumar as new Non-Executive Chairman

HDFC Bank has appointed former IAS officer and ex-Chief Election Commissioner Rajiv Kumar as its Part-time (Non-Executive) Chairman. The bank's board approved his appointment as an Additional (Independent) Director for four years, effective June 30, 2026. Kumar's three-year term as Chairman awaits RBI approval, with shareholder consent also needed for…

The Economic Times · Jun 29

After courts, RBI, independent reviewers clear HDFC Bank; persistence of crisis narrative raises questions

HDFC Bank is facing a barrage of governance allegations and panic. However, court relief and regulatory reassurances indicate no material adverse findings. Separate developments have been combined to create a perception of failure. Key facts counter this narrative, suggesting a deliberate effort to damage the bank's reputation. The bank remains…

The Economic Times · Jun 5

HDFC Bank shares fall 5% in two sessions; lender responds to recent Rs 45 crore differential payment report

HDFC Bank shares dropped for a second day following a report of an internal investigation into Rs 45 crore in payments disguised as marketing expenses. The bank clarified that its internal audit function conducts reviews, and observations are addressed.

The Economic Times · May 29

HDFC Bank 'strongly' rejects Rs 45 cr payment route wrongdoing

HDFC Bank has strongly denied media reports alleging wrongdoing. The bank stated its internal oversight, audit, and control systems are robust. This clarification follows a report about an internal investigation into Rs 45 crore payments. The payments were reportedly disguised as marketing expenses to a public sector undertaking. HDFC Bank…

The Economic Times · May 27

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HDFC Bank shares fall 2% on reports of internal probe over Rs 45 cr interest payments

HDFC Bank shares fell after a report revealed an internal investigation into Rs 45 crore payments to Maharashtra State Road Development Corporation. The Audit Committee ordered the probe into funds allegedly routed through the marketing department as 'differential interest' for a road safety campaign, with senior management, including CEO Sashidhar…

The Economic Times · May 27

How India's fast-growing middle class propelled HDFC Bank into the Global 500

After a recent merger, HDFC has 93 million customers and a huge footprint in mortgages, checking, and savings.

Fortune · Aug 5, 2024

HDFC Bank to add 1,500-2,000 branches every year for 5 years

NEW DELHI: HDFC Bank proposes to double its network of branches in the next three to five years by adding 1,500 to 2,000 branches annually, which would akin to adding a new HDFC Bank every five years, said its managing director and CEO Sashidhar Jagdishan.

The Times of India · Jun 21, 2022

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