Who Is Anup Bagchi? Meet HDFC Bank’s New CEO, Check His Salary, Education and Career Achievements

All About Anup Bagchi: He is the new face who will take charge of HDFC Bank. Anup is set to take charge as the Managing Director and CEO of HDFC Bank. His new role as the CEO of HDFC Bank starts on October 27, 2026.

The Reserve Bank of India has approved his appointment for a three-year term. Before him, Sashidhar Jagdishan was in charge.

In a recent disclosure, Bagchi attracted attention because of his proposed remuneration package, which could make him India's highest-paid bank CEO.

His appointment comes at an important time for HDFC Bank, as the lender focuses on business growth, deposit mobilisation and post-merger integration.

Anup Bagchi has more than three decades of experience in the financial sector. From October 27, he will be responsible for leading and taking forward one of India's largest private sector banks.

Also Read: World’s Top 10 Performing Banks 2026: HDFC Bank Ranks 3rd; But Which Bank Took the No. 1 Spot? Check Full List

Who Is Anup Bagchi?

Anup Bagchi is a veteran of Indian banking and financial services. He has spent most of his career at the ICICI Group. At ICICI Bank, he served as the Managing Director and CEO of ICICI Prudential Life Insurance.

Anup Bagchi has an excellent academic record as well. He holds an engineering degree in Chemical Engineering from the Indian Institute of Technology (IIT), Kanpur. Not just this, he also holds a management degree from the Indian Institute of Management (IIM), Bangalore. Both of his degrees are from the top-rated colleges of India.

His professional experience spans retail banking, wholesale banking, capital markets, wealth management and insurance.

Anup Bagchi's Career Achievements

Anup Bagchi's career reflects more than three decades of experience across India's banking and financial services industry. From capital markets to banking and insurance, he has held leadership positions across several major financial institutions.

• ICICI Securities: Served as Managing Director and CEO from 2011 to 2016, leading the company's operations in the financial services space.

• ICICI Bank: Worked as Executive Director from 2017 to 2023, overseeing retail, business and rural banking before taking charge of wholesale banking.

• ICICI Prudential Life Insurance: Assumed the role of Managing Director and CEO in June 2023, expanding his leadership experience in the insurance sector.

• Three Decades of Experience: Built a career spanning more than 30 years across banking, capital markets and insurance, bringing diverse financial expertise to his upcoming role at HDFC Bank.

What Is Anup Bagchi's Salary?

A few days ago, Anup Bagchi was in the spotlight for his salary and remuneration. According to a Reuters report, his proposed annual remuneration is approximately ₹35.9 crore, including fixed pay and performance-linked compensation. HDFC Bank has also proposed a one-time joining bonus of ₹7.35 crore in stock-linked incentives.

This whopping package offered to Bagchi looks fancy but comes with a lot of responsibilities and work. However, the package is subject to shareholder approval, with a substantial portion linked to performance and share-based awards. This means his final earnings may vary depending on the applicable conditions.

Anup Bagchi's appointment marks a significant leadership transition for HDFC Bank when the bank needs it the most. He comes with extensive experience across banking and insurance. Everyone who has invested in or is working at HDFC has their eyes on him. One wrong move, and he will take HDFC down with him.

He will be expected to support business growth, strengthen investor confidence and help the lender navigate India's competitive financial sector.