RBI clears re-appointment of Aditya Puri as HDFC Bank CEO for 2 years

NEW DELHI: HDFC Bank on Monday said the RBI had approved the re-appointment of Aditya Puri as managing director of the bank for another two years.

“Reserve Bank of India, vide its letter dated October 22, 2018, has accorded its approval to HDFC Bank Ltd. for re-appointment of Aditya Puri, as MD & CEO of the bank, from November 1, 2018 to October 26, 2020 (i.e. till the date of his attaining the age of 70 years),” the bank said in a filing to stock exchanges.

Shareholders had already approved his appointment in 2015 for five years subject to the RBI’s approval, it added.

Puri has been with HDFC Bank since 1994, making him the longest-serving head of any private bank in the country. During his tenure, he led the bank through two major mergers in the Indian banking industry — merger of Times Bank Ltd and Centurion Bank of Punjab Ltd with HDFC Bank.

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