One man has proved consistently that banking is a simple business. Aditya Puri was the managing director of HDFC Bank, India's largest private sector bank. He assumed this position in September 1994, with a vision to create a "World Class Indian Bank". There were major challenges in this corporate arena that impose limitations to the growth and potential profits of an organization.
Aditya Puri was born in Gurdaspur District (Punjab) and studied at Punjab University, Chandigarh, gaining a bachelor's degree in Commerce. He qualified as a Chartered Accountant with the Institute of Chartered Accountants of India.
He worked in the banking sector for 40 years, in India and other countries. He became CEO of Citibank, Malaysia in 1992. In September 1994 he returned to India as managing director of HDFC Bank. In August 2019 he was reported to be the most highly paid CEO of any Indian bank.
Talking about how to manage life, Puri believed “In life we have a number of balls in the air at the same time such as job, family, friends, etc. It takes us quite some time to realise about our jobs and neglect many things in life.”
“We at HDFC Bank are proud to say that we have brought eight million families across the country over the poverty line and have provided them jobs and sustainability. Our focus in the future is toward education, healthcare and creating opportunities.”
HDFC Bank managing director and CEO for 25 years Aditya Puri retired on Monday from India’s largest private bank. Sashidhar Jagdishan has taken over the charge. Jagdishan has been part of the bank since 1996, and played a critical role in supporting the growth trajectory of the bank.
On his last day in office, while addressing his colleagues virtually, Puri, 70, spoke about the journey of building the bank which focused on the centrality of the employees. Puri retired in accordance with the RBI regulations which says a private bank CEO’s tenure should not exceed 70 years. Insightful leadership defined Mr. Aditya Puri's 25 years journey in HDFC Bank and it reflected in the share price that turned several investors into millionaires and continues to be a favourite pick.
From Rs 4 in 1995, HDFC’s stock jumped to Rs 1,213 on October 26 2020, the day MD & CEO Puri retired from HDFC Bank. From October 27, Sashidhar Jagdishan takes over as the post of MD and CEO of the bank but the question everyone is asking is will the good run continue?
Puri, HDFC, Managing Director (MD), Chief Executive Officer (CEO), RBI, Private
Bank, Sashidhar Jagdishan , Largest private bank.