Mumbai, As HDFC Bank's Managing Director Aditya Puri has retired, Sashidhar Jagdishan will take charge as the new MD and CEO on Tuesday.

Puri retired at the end of business hours on Monday.

"Sashidhar Jagdishan (DIN: 08614396) shall take charge as the Managing Director and Chief Executive Officer of the Bank with effect from October 27, 2020. Jagdishan has been a part of the Bank since 1996, and played a critical role in supporting the growth trajectory of the Bank. With an overall experience of over 30 years," the bank said in a regulatory filing.

Jagdishan has extensive knowledge and experience in the fields of banking, finance, and economics, it added.

Puri has been the MD of the bank since its inception in 1994.

The filing said: "Puri leaves behind a legacy of strong cultural values, prudent risk management, sustainable growth and contribution to nation building through 'Parivartan', the Bank's social initiatives brand which has contributed to improving the lives and livelihood of millions of Indians."

In August, the bank had announced the name of Jagdishan as the successor to Puri.