HDFC Bank is set to appoint Anup Bagchi as managing director and chief executive on October 27, with a first-year pay package that could reach about ₹43.2–₹43.24 crore. Reports say his target annual remuneration is ₹35.9 crore, made up of a fixed component and performance-linked variable pay, with additional benefits such as a one-time joining bonus and stock or other incentives.
Multiple outlets describe the same structure: fixed pay of about ₹9 crore and a capped variable element of roughly ₹26.9 crore, with the overall maximum first-year figure landing just above ₹43 crore. The proposed package is reported to significantly exceed Bagchi’s prior compensation at ICICI Prudential Life and to place him among the highest-paid bank CEOs in India. Economic Times adds that the remuneration is subject to shareholder approval, with the vote conducted via a postal ballot running until November 6.
