HDFC Bank shares surge on RBI's consideration of Anup Bagchi as CEO

HDFC Bank shares climbed to a seven-week high of Rs 749.30, gaining 5% over three trading sessions, following reports that the Reserve Bank of India is considering Anup Bagchi for the bank's CEO and managing director position.

The RBI has sought feedback on the candidature from the Insurance Regulatory and Development Authority and ICICI Bank CEO Sandeep Bakhshi, according to reports. The leadership transition at India's largest private sector lender comes as the bank navigates regulatory requirements and governance changes.