The AGM also comes at a time when the bank is yet to begin the formal process of selecting its next chief executive officer. Managing Director and CEO Sashidhar Jagdishan’s current term ends in less than three months, while Reserve Bank of India guidelines require a bank’s board to submit its recommendations six months before the incumbent’s tenure expires.
Shareholders will be asked to approve the bank’s financial statements and dividend for the financial year. The bank will also seek approval to raise funds through the issuance of Perpetual Debt Instruments (forming part of Additional Tier I Capital), Tier II Capital Bonds and Long-Term Bonds for financing infrastructure sub-sectors, through private placement.
At the board level, HDFC Bank will seek shareholder approval for the appointment of Rajiv Kumar as its new non-executive chairman, along with his remuneration package. His proposed compensation includes:
An annual fixed remuneration of ₹50 lakh, payable on a proportionate basis or such other amount as may be approved by the RBI, with the option of monthly, quarterly or annual payment
Sitting fees for attending meetings of the Board and its committees.
Free use of the bank’s car for official and personal purposes.
Kumar’s predecessor, Atanu Chakraborty, received the same remuneration structure. During FY26, Chakraborty was paid ₹59 lakh in sitting fees and ₹48.25 lakh as fixed remuneration, taking his total remuneration to ₹1.07 crore, excluding the provision of a car for official and personal use until March 18, 2026. The bank said the RBI had approved a fixed remuneration of ₹50 lakh for the full financial year. However, since Chakraborty resigned on March 18, 2026, he received ₹48.25 lakh on a proportionate basis.The bank has also sought shareholders’ approval to reappoint V. Srinivasa Rangan, who retires by rotation, as a director.
(Edited by : Sheersh Kapoor)
First Published: Aug 4, 2026 5:34 PM IST
