Tim Cook recently met this guy when he came to India. He is the CEO of HDFC Bank and now we all know why they both met. Apple is all set to launch their own credit card, the Apple Card in India and it has partnered up with HDFC Bank to launch this. Now India will be the only country after USA where this card will be launched.
Now in USA, Apple has partnered with Goldman Sachs as their banking partner. Now the best part about the Apple Card is that Apple does not charge late fees to the Apple Card holders. And there is a zero annual fee as well. And on top of this, you earn 1% cash back while using the physical card for your regular purchases, which can also increase to 2% if you’re using Apple Pay. Now card holders also have the option to open a savings account with 4.15% interest rate and there’s absolutely no minimum balance required.
But do you who is this CEO behind this deal? Its Sashidhar Jagdishan who is currently heading HDFC bank and was trained by none other than Aditya Puri. He has a big shoes to fill in as the successor of former CEO Aditya Puri who revolutionised HDFC Bank. Here’s the story of how this banker at the helm of India’s largest private bank and how he became so successful in his carrier…..
Beginning of his career
Sashidhar Jagdishan, fondly known as Sashi, began his journey with HDFC Bank in 1996 as a manager in the Finance department. Over the years, he has risen through the ranks, donning various roles and contributing significantly to the bank’s growth. From becoming the Chief Financial Officer in 2008 to being appointed as the “Strategic Change Agent of the Bank” in 2019, Sashi has played a pivotal role in aligning HDFC Bank with its strategic objectives.
Recognitions and accolades
Sashi’s expertise and leadership in finance have earned him widespread recognition. He was honored with the Best CFO in the banking sector at the CNBC TV18 CFO Awards 2013-14. In 2019, he received the prestigious title of Best CFO by a special jury at the 3rd The Financial Express CFO Awards. His achievements extend beyond the financial realm, as he made his debut in the 10th edition of India Today’s renowned High and Mighty List.
Education and experience
With an overall experience of 30 years, including 24 years at HDFC Bank, Sashi’s knowledge and expertise have been instrumental in the bank’s success. He holds a Master’s degree in Economics of Money Banking & Finance from the University of Sheffield, UK, and is a qualified Chartered Accountant. Before joining HDFC Bank, Sashi also gained valuable experience during his three-year stint with Deutsche Bank AG, Mumbai.
Balancing work and passion
Sashi, a true Mumbaikar, was born and raised in the tranquil bylanes of Matunga. He currently resides in Mumbai with his wife and their son. Despite his demanding role, Sashi finds time to pursue his passions. Cooking is one of his favorite pastimes, and he loves experimenting in the kitchen, although “thayir shadam” (curd rice) remains a beloved dish. Sashi takes delight in cooking for his family and friends every weekend. He also enjoys listening to Carnatic music, reading, and cycling to stay fit.
Weathering the storm: leading HDFC Bank through challenges
Taking over as the MD & CEO of HDFC Bank amidst the unprecedented challenges posed by the Covid-19 pandemic, Sashi faced a series of formidable obstacles. From technological glitches to disruptions in banking services, compliance failures to regulatory penalties, he navigated through the most challenging economic environment in the bank’s history. With unwavering determination and resilience, Sashi emerged as a leader, dousing fires and ensuring the smooth functioning of the bank, even while working remotely and caring for his elderly parents.
Salary
As per a 2022 report in the Economic Times, the remuneration of Sashidhar Jagdishan at HDFC Bank is Rs 6.51 crore.
As Sashidhar Jagdishan continues to lead HDFC Bank on its transformative journey, his relentless pursuit of innovation, coupled with his astute financial acumen, promises to position the bank at the forefront of the digital revolution. With his visionary leadership, HDFC Bank is poised to embrace technology, enhance customer experience, and shape the future of banking in India.
But the question is that now this is a massive bet that Apple and HDFC is taking in India, do you guys think they will come and fight with the other awesome credit cards in the market?