Aditya Puri's Lasting Impact on Indian Banking

Aditya Puri's tenure as the Managing Director of HDFC Bank was marked by a series of strategic decisions that transformed the bank into India's largest private sector lender.

During his 25-year tenure, HDFC Bank's net profit grew from ₹1.37 billion to ₹41.55 billion.

Puri's leadership led to the bank's expansion into new areas, including rural banking and digital payments.

He oversaw the launch of several innovative products, including HDFC Bank's mobile banking app, which became one of the most popular banking apps in the country.

Puri's commitment to digital banking helped HDFC Bank become one of the first banks in India to adopt a mobile-first strategy.

Under his leadership, HDFC Bank expanded its presence in the country, opening over 5,000 new branches and increasing its employee base to over 100,000 people.

Aditya Puri's career in the banking sector spanned four decades, during which he held various roles. He began his journey in 1992 as the CEO of Citibank, Malaysia.

He later returned to India in 1994 as the Managing Director of HDFC Bank, a position he held for decades. His leadership played a crucial role in shaping the bank's growth and success.

Here's a timeline of Aditya Puri's journey:

Aditya Puri's achievements in the banking sector are a testament to his dedication and leadership.

Aditya Puri is the father of actress Amrita Puri, who made her Bollywood debut with Sonam Kapoor starring romantic comedy-drama Aisha.

He has a son named Amit Puri and a cousin named Bharat Puri, who is the MD of Pidilite Industries and Ex CMD of Cadbury India.

Aditya Puri, the former chief executive of HDFC Bank, has been making headlines lately. He has been appointed as a senior adviser to the Carlyle Group, a private equity firm.

HDFC Bank's board has constituted a six-member sub-committee to identify a successor to Aditya Puri, whose term ends on October 26, 2020.

Aditya Puri has assured HDFC Bank employees that their jobs and bonuses are secure. He has also handed over charge to Sashidhar Jagdishan as the new chief executive and managing director of the bank.

HDFC Bank is targeting to grow its share of credit card spend and merchant payment processing. The bank accounts for 30% of all credit card spend and 50% of merchant payment processing in the country.

A law firm in the US has filed a class action suit against HDFC Bank, claiming damages for the losses incurred by investors. The lawsuit alleges that HDFC Bank made "materially false and misleading" representations.

Aditya Puri has expressed his desire to be involved in "digital transformations" after his retirement. He has also backed the proposal to allow deep-pocketed corporates into banking in India.

The RBI has revised guidelines for appointing new MD & CEO of a bank. Proposals should contain a panel of at least two names in the order of preference and should be submitted at least four months before the expiry of the term of office.