He joined the company in 1996 as a manager in the finance department and has played a critical role in its growth ever since.
Sashidhar Jagdishan, Chief Executive Officer (CEO) and Managing Director (MD) of HDFC Bank, took home an annual remuneration of Rs 10.55 crore in the financial year 2022-23. Earlier in 2021-22, he received an annual remuneration of Rs 6.52 crore, the largest private sector lender said in its annual report for FY23.
His annual remuneration has shot up by over 62 per cent in FY23. He became the MD and CEO of the bank in 2020. Jagdishan joined HDFC Bank in 1996 as a manager in the finance department and has played a critical role in its growth ever since.
Sashidhar Jagdishan's salary
In its annual report for FY23, the bank said Jagdishan took home an annual package of Rs 10.5 crore in FY 2023. The CEO was paid a basic salary of Rs 2.82 crore, allowances and perquisites of Rs 3.31 crore, a provident fund of Rs 33.92 lakh and a performance bonus of Rs 3.63 crore, the report said. As of July 19, 2023, the market capitalisation of the HDFC bank is 12.70 trillion INR which is around Rs 12,70,000 crore. The share price of HDFC Bank was 1,684.75 on July 19.
Who is Sashidhar Jagdishan?
Born in Mumbai, Jagdishan has an overall experience of 30 years including 24 in HDFC Bank. He completed a 3-year stint with Deutsche Bank AG, Mumbai before joining HDFC in 1996. He holds a bachelor's degree in Science (Physics) from Mumbai University.
Jagdishan is also a qualified Chartered Accountant. He also holds a Master's degree in Economics of Money, Banking, and Finance from the University of Sheffield, UK. In 2019, he was appointed the "Strategic Change Agent of the Bank' and given additional responsibilities of Legal & Secretarial, Human Resource, Corporate Communication, Infrastructure & Administration and CSR.
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 "Meet the man with Rs 10.55 crore salary, who heads Rs 12,70,000 crore company, not from IIT, IIM")
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