Former State Bank of India (SBI) Chairman Dinesh Kumar Khara is reportedly among the names being considered for the position of Managing Director and CEO of HDFC Bank. The bank has started the process of finding a successor to Sashidhar Jagdishan, whose current term ends on October 26, 2026.
Khara Had Earlier Been Approached
According to the report, HDFC Bank had earlier approached Dinesh Khara for the position of part-time chairman. However, Khara had declined the offer.
He was approached after Atanu Chakraborty stepped down as the bank’s part-time chairman in March. After Dinesh Khara declined, Rajiv Kumar was later appointed to the position.
However, Khara has denied having any knowledge of the latest development. Responding to CNBC-TV18, he said, “I have no clue about it and genuinely have no comment on the subject.”
Dinesh Khara’s SBI Tenure
Dinesh Khara served as the Chairman of SBI from October 2020 to August 2024. During his tenure, he led one of India’s largest banking institutions. His experience in managing a large banking franchise could make him a potential candidate for the top position at HDFC Bank.
HDFC Bank Looking at Internal and External Candidates
HDFC Bank is reportedly considering both internal and external candidates for the CEO position. One of the internal candidates being discussed is Kaizad Bharucha, who is currently the Deputy Managing Director of HDFC Bank.
However, Bharucha could face a limitation because his 15-year term as a whole-time director on the bank’s board ends in 2029. If appointed as CEO, this could give him a relatively short period in the position. Because of this, the bank may also consider experienced senior bankers from outside the organisation.
Why SBI Executives Could Be Considered
Senior executives from SBI could be among the external candidates because of their experience in managing a large banking business. The selection of the next CEO will be important for HDFC Bank as it looks to maintain its growth strategy and strengthen investor confidence.
