) has chosen global executive search firm Egon Zehnder to identify a successor to managing director Aditya Puri, the country’s top private lender said on Thursday.
Four sources familiar with the discussions told Reuters that a six-member internal search committee, appointed in November last year, has been unable to reach a consensus on selecting a successor to Puri, who has been at the helm of HDFC Bank since its inception in 1994. As per regulations, the bank will need to get approval from the Reserve Bank of India , before any new appointment can be confirmed. HDFC Bank is one of three domestic lenders that the central bank has designated as “too big to fail”.
The sources said Puri and Deepak Parekh, the chairman of India’s largest housing finance company HDFC which owns a minority stake in the bank, have been at loggerheads over the bank’s succession plan, with both advocating their preferred candidates to secure the job.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As Detroit Quits India, China Drives InIndia’s vast but volatile auto market has tripped up many foreign car makers. Chinese manufacturers looking for growth abroad could be next. Cars require roads
Source: WSJ - 🏆 98. / 63 Read more »
How Samsung, Qualcomm, and other smartphone leaders are targeting India - Business InsiderCracking the price-sensitive Indian smartphone market could allow smartphone manufacturers to reinforce their revenue streams in high volumes: you make it sound like a quantum physics problem... you give them the cheapest phone, they'll buy it
Source: BusinessInsider - 🏆 729. / 51 Read more »
India Sees Opportunity as U.S. Remakes Its AlliancesIndia sees the Trump administration’s reassessment of America’s traditional alliances as a strategic opportunity—a shift that allows New Delhi to deepen ties with Washington without provoking retribution from China or destroying a longstanding partnership with Russia. They see how we caved to China, now they want a piece. This is what happens when you elect an idiot who thinks he is a good negotiator. India has a bunch of ghost towns so i wouldnt worry about them
Source: WSJ - 🏆 98. / 63 Read more »
Brazil urges India to cut import taxes on chicken productsBrazil wants India to cut its import taxes on chicken and chicken products, so i...
Source: Reuters - 🏆 2. / 97 Read more »
The Stylish Octogenarians of Paris Men’s Fashion Week Are the Faces of a New Unisex LabelFlorentin Glémarec tapped his grandparents Marie-Louise and René as the unofficial brands ambassadors for Egon Lab, the label he started last year with his boyfriend, Kévin Nompeix. If I were a designer I'd deck my pretty little Mamaw out in all the fashions too. I thought that was Roger Stone
Source: voguemagazine - 🏆 715. / 51 Read more »
India's shadow lending sector is in a 'better position' after two years of clean up, says bank chairmanRajnish Kumar, chairman of the State Bank of India acknowledged that India's shadow lenders — or non-bank financial companies — still face challenges, but he struck an optimistic tone about the future.
Source: CNBC - 🏆 12. / 72 Read more »