India’s central bank approves Sashidhar Jagdishan as managing director of HDFC Bank

Reserve Bank of India approved Sashidhar Jagdishan as managing director and chief executive officer of HDFC Bank Ltd., CNBC TV18 reported, without citing anyone.

Jagdishan will replace Aditya Puri who will be stepping down as head of India’s biggest bank by market value in October, according to the report.

After 26 years at the helm, Puri is set to retire when he turns 70, the age limit set by the central bank for private bank chiefs.

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