Mint Road's proposals on banks' M&A funding are cautious even as entrants root for more elbow room, and weigh business models.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
HDFC Bank is on a global search to find a successor to the founding-chief executive Aditya Puri, as he would turn 70 next year.
Hong Kong-based Finance Asia conducts the annual poll to find Asia's top companies in different categories, including Best CEO, it said. In the best managed company category, HDFC Bank came third while in corporate governance category, the bank was ranked second after Infosys Technologies.
Shareholders had already approved his appointment in 2015 for a period of five years subject to RBI approval
He said companies with a good strategy, technology, capital, liquidity and a motivated team will emerge as winners after the crisis.
20 CEOs are from the companies based in US.
India's top bank CEO has fine-tuned his work so efficiently that he has oodles of time for his favourite pastimes.
HDFC Bank managing director Aditya Puri on Wednesday said the lender's business is returning to pre-COVID-19 levels and full normalcy is expected to be restored soon.
Jagdishan, currently working as the 'change agent' of HDFC Bank and head of finance, has been with the bank since 1996.
He is the chief executive and managing director of the second largest private sector lender HDFC Bank
Puri gave up the comforts of Citibank to set up a new-age bank from a rat-infested room in the Kamala Mills Compound in Worli, Mumbai and build a marquee brand. A look at his 26-year stint as HDFC Bank's boss.
Former HDFC Bank CEO Aditya Puri will be guiding global Carlyle on investment opportunities across Asia as a senior advisor, the global private equity major said on Monday.
Puri earned a salary of Rs 7.39 crore in FY15, up 21.74% from last year
However, the remuneration of Puri and Kochhar are not strictly comparable as the two banks follow different accounting practices.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
The veteran banker has been instrumental in building the bank from scratch and turning it into the largest private sector lender of the country.
Puri pointed out that government's work on agricultural constituents like functioning of the APMCs, irrigation and direct benefit transfers will help the supply side
Puri will hang up his boots this October as he will reach the maximum age limit of 70 for a chief executive officer of a private bank. Puri has been at the helm of HDFC Bank for the past 26 years, since its inception in 1994.
'If you want to live a happy life, you have to help the downtrodden. You have to understand that you have been given a position which is a confluence of your own capability and the grace of God. You must use that position to exemplify to others what has to be followed.'
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
HDFC Bank managing director Aditya Puri says a little delay in monetary transmission is inevitable
For over a decade, HDFC Bank consistently outperformed industry growth rates in both deposits and advances, maintaining impeccable asset quality. Amid a landscape where other banks struggled with soaring non-performing assets (NPAs), HDFC Bank thrived, eventually surpassing ICICI Bank to become the largest private sector lender in India. Its net interest margin (NIM) remained stable in the range of 4.1-4.4 per cent.
Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, the largest private-sector lender of the country, has just completed his first term. The period October 2020-October 2023 was a roller coaster, and the second one, which started on October 27, could be more interesting as the lender absorbs the impact of the merger of HDFC, which was integrated on July 1, and moves to the next growth phase. Soon after he took over the reins from Aditya Puri on October 27, 2020, the Reserve Bank of India (RBI) debarred HDFC Bank from enrolling new credit card customers and launching new products under the Digital 2.0 programme due to repeated outages on its mobile-banking and internet-banking platforms.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
The law firm had specifically named the bank's chief executive and managing director of over 25 years, Aditya Puri, his designated successor Sashidhar Jagdishan and company secretary Santosh Haldankar as defendants.
Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
Talks of a merger between HDFC Bank and parent HDFC Ltd had gained steam nearly eight years ago, when the Reserve Bank of India allowed banks to issue long-term bonds to fund infrastructure and affordable housing. At that time, key executives at both entities denied any such proposal. And today, the merger has been officially announced by the two players.
Aditya Puri has a higher yearly pay of 9.7 crore, plus stock options, at HDFC Bank.
The fundamental issue between banks and fintech would be who will own the customer and who will be the service provider.
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
He urged employees to work as a team, follow the vision the lender has set out for itself and beat competition.
In a curious move, Reliance Industries' (RIL) executive director and Mukesh Ambani's trusted aide PMS Prasad pledged 600,000 shares of the company last month, which is 93.75 per cent of the total shares he owns in RIL. Prasad owned a total of 640,000 RIL shares and his compensation stood at Rs 11.15 crore in FY20.
Puri has been at the helm of the bank since its inception in 1994.
Paresh Sukthankar, the heir apparent to Aditya Puri, prefers an approach that is in sharp contrast to Puri's.
These are the highest-earning bank CEOs in India.
Nadella has been ranked fifth among 50 global corporate heads by Fortune Magazine in its annual 'Businessperson of the Year' compilation, followed by CEO of Milwaukee-based maker of water heaters A O Smith Ajita Rajendra on the 34th spot, HDFC Bank's Managing Director Aditya Puri on the 36th position and Banga on 40th.
McDonald's asks the consumer whether he wants a hamburger with cheese, with tomato or without tomato. We will also have to deliver products as and when and how the customer wants.
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