RBI approves Anup Bagchi as HDFC Bank MD & CEO, Motilal Oswal upgrades outlook
The Reserve Bank of India cleared Anup Bagchi to become managing director and chief executive of HDFC Bank for a three‑year term beginning 27 Oct 2026, succeeding Sashidhar Jagdishan. Bagchi brings more than 30 years of experience across banking, capital markets, wealth management and insurance, most recently as MD & CEO of ICICI Prudential Life. Motilal Oswal reiterated a positive stance on the bank, setting a price target of INR 925 and forecasting better earnings from FY28 onward.
Why it matters
Motilal Oswal says the leadership change should lift investor sentiment and support earnings growth from FY28, with a projected return on assets of about 1.7 %. The appointment removes uncertainty around succession and may help the share price recover after recent declines.
Key facts
- 1The RBI approved Anup Bagchi as MD & CEO of HDFC Bank for a three‑year term starting 27 Oct 2026. investmentguruindia.com
- 2Bagchi will replace Sashidhar Jagdishan, whose term ends on 26 Oct 2026. investmentguruindia.com
- 3Bagchi has over three decades of experience in banking, capital markets, wealth management and insurance. investmentguruindia.com
- 4Motilal Oswal set a target price of INR 925 for HDFC Bank. investmentguruindia.com
- 5The firm expects the bank’s return on assets to stay around 1.7 % from FY28 onward. investmentguruindia.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.