Here is the salary HDFC Bank CEO Sashidhar Jagdishan took home in FY23

Sashidhar Jagdishan, Chief Executive Officer (CEO) and Managing Director (MD) of HDFC Bank, took home an annual remuneration of Rs 10.55 crore in the year ended on March 31, 2023 as against an annual remuneration of Rs 6.52 crore in 2022, revealed the annual report released on Wednesday.

Jagdishan, who succeeded Aditya Puri in 2020 as the MD, has spent a collective 24 years with HDFC Bank. As per the annual report, his package includes basic salary of Rs 2.82 crore, allowances and perquisites of Rs 3.31 crore and performance bonus amounting to Rs 3.63 crores.

Meanwhile, the CEO was also awarded Rs 1.05 crore as part of cash variable pay for performance year 2020 - 2021. However, as per guidelines, this is just 50 per cent of the total cash variable pay approved by RBI which was Rs 2.10 crore.


For the year 2021 - 2022, total cash variable pay approved by RBI for Jagdishan was Rs 5.16 crore of which he received Rs 2.58 crore.

HDFC Bank's Executive Director Kaizad Bharucha also bagged an annual remuneration of Rs 10.03 crore in year ended on March 31, 2023 as against annual salary of Rs 10.64 crore as on March 31, 2022, as per the annual report.

Bharucha's basic salary, allowances and perquisites, and performance bonus as on March 31, 2023 were at Rs 2.74 crore, Rs 4.36 crore and Rs 2.18 crore respectively.

Taking up various roles in expansive career with HDFC, Jagdishan has been noted key in the merger of HDFC with HDFC Bank.

HDFC Bank, India's largest private lender, on Monday reported a bigger-than-expected 30% jump in first-quarter profit, helped by higher net interest income (NII) and strong loan growth.