The board is seeking a successor ahead of October 26, when Jagdishan’s tenure ends. Shares of India’s biggest private-sector lender have lost more than 28% this year after rising for 12 consecutive years. On the announcement day, the stock slipped 1.6% to ₹709, its weakest close in roughly 30 months.

Internal names under discussion include Deputy Managing Director Kaizad Bharucha and Chief Credit Officer Jimmy Tata. Bharucha’s eligibility to serve as a director runs only until 2029, leaving a potential CEO stint shorter than three years. Tata has spent over three decades at the bank.

Other names being discussed are ICICI Pru Life’s Anup Bagchi, HSBC India’s Hitendra Dave, Axis Bank CEO Amitabh Chaudhry and former HDFC Bank executive Paresh Sukthankar. These remain possible choices, not confirmed appointments. A longer leadership runway could help provide continuity as the lender manages its post-merger adjustment.

The incoming chief would face pressure to strengthen deposit gathering, net interest income and margins following the HDFC Ltd merger. Brokerage views differ: Bernstein and Macquarie remain optimistic, while Jefferies has lowered its targets over concerns about deposit and fee growth. Governance concerns and regulatory scrutiny add to the challenge of restoring confidence.