Jagdishan’s departure is scheduled for the end of his current tenure. According to the Economic Times report, he will leave the bank’s service on October 26 rather than seek reappointment. This makes the development a planned exit at the close of his term, not an immediate change at the top.

The board had tried to persuade Jagdishan to reconsider, but those efforts did not change his position. It subsequently accepted his decision. The supplied report does not explain why he opted against another term or provide details of the discussions that preceded the board’s acceptance.

For employees following the leadership transition, the retirement date is the key confirmed detail. The report does not identify a successor or describe how the bank plans to select its next chief executive. It also gives no timetable for a further announcement on the appointment.

There are no details in the supplied report about changes to the bank’s business plans or operating arrangements linked to the retirement. The announcement therefore establishes the timing of Jagdishan’s exit, while leaving the next stage of the leadership transition unspecified.