In a recent event celebrating the launch of his wife Anita “Smiley” Puri’s book Adityanama, Aditya Puri, the eminent Indian banker, shared his post-retirement aspirations and his unwavering commitment to making a difference in the lives of people, particularly those residing in rural India. While his career has been marked by remarkable achievements and financial success, Puri’s ultimate goal lies in providing affordable finance to rural areas, thus eliminating the clutches of moneylenders.
Aditya Puri, the longest serving head of a private Indian bank, and the former managing director of HDFC Bank, has emerged as a shining symbol of success and transformation in the Indian banking industry. From humble beginnings and a middle-class background, Puri’s ascent to the pinnacle of his profession has been nothing short of extraordinary.
Let us delve into the captivating story of this iconic banker, his numerous accolades, and his remarkable financial achievements.
Early Life
Born with an indomitable spirit in the city of Gurdaspur, Punjab, Aditya Puri’s early years laid the foundation for his tenacity and resilience. He completed his Bachelors in Commerce from Punjab University, Chandigarh and later on became a chartered accountant.
His humble beginnings, devoid of any silver spoons or grand privileges, inspired him to cultivate a relentless work ethic and unwavering determination. It was these qualities that would later propel him to become one of the most influential figures in the realm of Indian banking.
Journey
Puri’s journey began as a management trainee with Mahindra Ltd in Mumbai. In those early days, he navigated the challenges of city life as a paying guest, paying a meager rent of Rs. 300 per month. The realization soon dawned upon him that he had come to Mumbai for a greater purpose. Determined to chart a different course, he reached out to his cousin working at Citibank in Beirut, Lebanon, and successfully secured an interview. This pivotal step marked the beginning of his association with Citibank, which lasted for an impressive 21 years, spanning 19 countries. In 1992, He became the CEO of Citibank Malaysia.
In 1994, fate intervened when Deepak Parekh, the renowned chairman of HDFC’s housing company, extended an invitation to Puri to set up a bank in India. He joined HDFC Bank, a startup at that time. The inaugural office, located at Sandoz House in Worli, Mumbai, was inaugurated by the esteemed finance minister of India, Dr. Manmohan Singh.
Throughout his tenure, Puri’s leadership transformed HDFC Bank into India’s most valued financial institution. Under his guidance, the bank achieved an astounding 16,000 percent returns, a testament to his strategic acumen and unwavering commitment to excellence.
His tenure at HDFC bank
Under Aditya Puri’s visionary leadership, HDFC Bank witnessed a meteoric rise, transforming from a nascent banking entity to the epitome of excellence. The bank expanded its footprint across the length and breadth of India, revolutionizing the way banking services were delivered.
Fast forward to the present day, and HDFC Bank has solidified its position as one of India’s largest private sector banks, boasting an impressive market cap of approximately Rs 6 lakh crore. The bank’s growth and success can be attributed, in large part, to Puri’s astute strategic decisions, unwavering focus on customer satisfaction, and relentless pursuit of innovation.
Net worth
Not only has Aditya Puri achieved great heights professionally, but he has also made a significant impact on the financial landscape. In FY 2019-20, he emerged as the highest-paid banker in India, earning an annual salary of Rs 18.92 crore, approximately Rs 1.5 crore monthly. This substantial figure was supplemented by additional income derived from exercising stock options, amounting to Rs 161.56 crores in 2019-20 and nearly Rs 42.20 crores in the preceding fiscal year. Puri’s financial rewards were the result of his dedication and exceptional leadership, evident in his monthly salary of Rs 89 lakh in 2019, making him the highest-paid CEO of Indian banks at the time
When it comes to his personal wealth, Puri’s success is undeniable. In 2020, his estimated net worth reached a staggering Rs 1,300 crore, reflecting the tremendous value he has created throughout his illustrious career. Additionally, he exercised his stock options and drew a substantial sum of Rs 161 crore, with his ESOPs totaling Rs 42 crore in the previous year.
Puri’s exceptional financial success has been duly recognized on numerous occasions. In 2016, he was the sole Indian to be featured in Fortune’s prestigious “Top 50 Businesspersons” list, a testament to his outstanding contributions to the banking sector. His achievements have not only earned him professional acclaim but have also positioned him as a role model for aspiring bankers and leaders across India.
He is the father of the actress Amrita Puri
Beyond his professional endeavours, Aditya Puri cherishes his role as a parent, being the father of actress Amrita Puri. Amrita has graced the silver screen and digital platforms with her talent, featuring in acclaimed films such as “Kai Po Che!” and “Aisha,” as well as popular web series like “Made in Heaven” and “Four More Shots Please!”
While Aditya Puri’s retirement marked a transition in leadership, his legacy and vision for a transformed India continue to inspire. Sashidhar Jagdishan took over as the chief executive officer of HDFC Bank, inheriting the responsibility of carrying forward Puri’s groundbreaking initiatives.
However, Aditya Puri’s ambitions extend far beyond the realm of financial accomplishments. He envisions an India where the money lending business is eradicated from rural communities, enabling access to affordable finance and empowering individuals to invest in their future without the burden of exorbitant interest rates. This vision stems from his deep-rooted desire to make a tangible difference in the lives of people, particularly those residing in rural areas.
