Bagchi’s appointment as HDFC Bank’s MD reflects RBI’s preference for external candidates

“Whenever any MD and CEO of a bank is appointed, they come with a certain vision for the bank, certain strategies and plan of action, which are typically long term in nature. Bharucha has less time, so it will be difficult for him to implement or execute any new plans,” the senior banker quoted above said. In comparison, an external candidate, subject to his performance, will have the option to continue even beyond this three-year term, helping ensure continuity at the bank, which is something that HDFC Bank “really needs right now”.