The race to succeed HDFC Bank Managing Director and CEO Sashidhar Jagdishan has intensified, with former State Bank of India (SBI) chairman Dinesh Kumar Khara reportedly among the external names being considered for the top post. Jagdishan has announced that he will not seek another term and will step down when his current tenure ends on October 26, 2026. The bank is now weighing both internal and external candidates for the crucial leadership position.
Dinesh Khara Among External Candidates
According to reports, Khara’s name has emerged as a potential contender for the HDFC Bank MD and CEO position. The former SBI chief had also reportedly been approached by HDFC Bank for the role of part-time chairman, but he declined the offer. Khara, however, has not confirmed whether he is being considered for the CEO position. His possible candidature comes with extensive experience of running India’s largest public-sector bank.
Who Is Dinesh Kumar Khara?
Khara served as SBI chairman from October 2020 to August 2024, following a banking career spanning nearly four decades. He joined SBI as a probationary officer in 1984 and went on to hold several senior positions. During his tenure as chairman, Khara oversaw major initiatives involving SBI’s digital banking expansion and structural transformation. He was also associated with the integration of SBI’s associate banks and Bharatiya Mahila Bank.
Internal And External Candidates are being considered
HDFC Bank is also considering candidates from within the bank. Kaizad Bharucha, Deputy Managing Director since 2023, is considered a leading internal candidate and has emerged as a frontrunner in a Reuters report. Other internal names have also reportedly been discussed, while the bank is looking at external candidates as part of the succession process. The final appointment will require approval from the Reserve Bank of India.
Why The Succession Matters
Jagdishan’s exit comes at a significant moment for HDFC Bank following leadership changes and concerns around governance and shareholder returns. His successor will inherit the responsibility of steering the country’s largest private-sector bank through its next phase of growth. For now, no final successor has been officially announced, and the names being discussed remain part of an ongoing selection process.
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Shamshad Ali is a New Delhi–based journalist with over six years of experience spanning breaking news writing, on-the-ground reporting, and editing. When he isn’t chasing headlines, Shamshad is usually exploring new destinations, discovering hidden culinary gems, and striking up conversations with strangers. Many of whom turn out to be great sources, and even better friends. He can be reached at shamshadali.dar@gmail.com.
