The Reserve Bank of India has approved the re-appointment of Aditya Puri as managing director of HDFC bank for another two years.
The bank said in a filing to stock exchanges, “Reserve Bank of India, vide its letter dated October 22, 2018, has accorded its approval to HDFC Bank Ltd. for re-appointment of Aditya Puri, as MD & CEO of the bank, from November 1, 2018 to October 26, 2020 (i.e. till the date of his attaining the age of 70 years).”
He will now continue as the bank’s CEO till October 26, 2020.
Shareholders had already approved his appointment in 2015 for five years subject to the RBI’s approval, the bank added.
Aditya has been with HDFC Bank since 1994, making him the longest-serving head of any private bank in the country. During his tenure, he led the bank through two major mergers in the Indian banking industry — merger of Times Bank Ltd and Centurion Bank of Punjab Ltd with HDFC Bank.
In May this year, Aditya was named in Barron’s Best CEOs 2018. The American publication included Aditya Puri in the list for the fourth consecutive year recognizing him as one of the world's best CEOs in a growth leader category.