HDFC Bank’s recommendation to reappoint Managing Director and CEO Sashidhar Jagdishan has been delayed while the bank’s independent directors conduct an additional governance review before sending his name to the Reserve Bank of India (RBI). According to Reuters and other reports, the review is ongoing, and no wrongdoing has been established so far.
Key points Market impact The uncertainty surrounding the bank’s top management has weighed on investor sentiment. Reports note that HDFC Bank shares have underperformed the Nifty Bank index since the…
