HDFC Bank seeks approval for Anup Bagchi's ₹35.9 crore pay
In short
HDFC Bank has proposed a pay package of ₹35.9 crore a year for Anup Bagchi, and shareholders will vote by postal ballot until November 6. The package includes fixed pay, variable pay and a one-time bonus.
This matters because the proposal could make him one of India’s highest-paid bank CEOs. It is still unknown whether shareholders will approve it.
What the reporting says
HDFC Bank has proposed an annual remuneration package of ₹35.9 crore for Anup Bagchi, subject to shareholder approval through a postal ballot until November 6. The package includes fixed pay, performance-linked variable compensation and a one-time joining bonus, according to publisher summaries. Reporting says the proposed pay is higher than outgoing CEO Sashidhar Jagdishan and peers, but final approval is still pending.
Why it matters
HDFC Bank has proposed ₹35.9 crore a year for Anup Bagchi, with shareholder approval still pending through a postal ballot until November 6. The package reportedly includes fixed pay, variable compensation and a joining bonus. The move matters for HDFC Bank investors and for comparisons with outgoing CEO Sashidhar Jagdishan and other bank chiefs, but the final outcome of the vote is not stated.