Sashidhar Jagdishan’s Six Years at HDFC Bank: Did He Get a Fair Hearing?
Sashidhar Jagdishan’s decision not to seek a third term as HDFC Bank’s MD & CEO has triggered intense speculation about the bank’s future. But behind the headlines lies a bigger question: Did Jagdishan pay the price for problems that began before his tenure?
In this audio, Sucheta Dalal examines the six years of Jagdishan’s leadership—from the historic HDFC Ltd–HDFC Bank merger and the RBI’s digital banking restrictions to the Atanu Chakraborty controversy, the Lilavati Trust dispute, the MSRDC deposit matter and the Credit Suisse AT1 bond mis-selling episode.
The HDFC merger was arguably the defining event of his tenure, bringing a massive mortgage book into the bank but also creating pressure on deposits, growth and profitability. At the same time, several legacy issues and regulatory challenges continued to follow the bank.
The audio also looks at a larger concern for Indian banking: How much accountability should rest with a sitting CEO for legacy problems, and how much transparency should there be when regulators decide whether a bank chief gets another term?
Sucheta Dalal puts Jagdishan’s record in context and asks whether his exit was warranted—or whether he was simply the banker left holding other people’s baggage.
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