30 June 2026 Punjab Khabarnama Bureau : India’s largest private-sector lender, HDFC Bank, has announced key changes to its senior leadership team, appointing Puneet Sharma as its new Chief Financial Officer (CFO) and Jigar Shah as the bank’s new General Counsel. The appointments are part of a broader management reshuffle aimed at strengthening the bank’s leadership as it enters its next phase of growth.
Puneet Sharma, who is currently serving as the Chief Financial Officer of Axis Bank, will join HDFC Bank as CFO-designate on September 1, 2026. He will formally assume the role of Chief Financial Officer on December 1, 2026, following the transition period. Sharma succeeds the bank’s existing finance leadership as part of a planned succession process.
A seasoned banking executive with more than two decades of experience, Sharma has led finance, legal and investor relations functions at Axis Bank for over six years. Before joining Axis Bank, he held senior leadership positions at Tata Capital and built extensive expertise in financial management, corporate strategy and capital allocation. HDFC Bank expects his experience to support the lender’s long-term financial and strategic objectives.
Alongside Sharma’s appointment, HDFC Bank’s board also approved the appointment of Jigar Shah as General Counsel-designate, effective August 20, 2026. He will officially take over as General Counsel from October 1, 2026, becoming a part of the bank’s senior management team.
The appointment of a new General Counsel comes at a time when regulatory compliance, governance and legal oversight are becoming increasingly important for India’s banking sector. Jigar Shah is expected to oversee the bank’s legal affairs, regulatory compliance and corporate governance functions while supporting strategic initiatives and risk management.
The leadership changes are part of a wider restructuring at HDFC Bank. Earlier the same day, the bank also appointed former Finance Secretary and former Chief Election Commissioner Rajiv Kumar as its Part-time (Non-Executive) Chairman, subject to regulatory approvals from the Reserve Bank of India (RBI). The appointment is expected to bring stability to the bank’s governance following months of uncertainty after the resignation of former chairman Atanu Chakraborty earlier this year.
The latest appointments underscore HDFC Bank’s focus on strengthening its leadership across finance, legal and governance functions. As India’s largest private lender by market capitalization and assets, the bank continues to expand its operations while integrating the business following its merger with Housing Development Finance Corporation (HDFC Ltd.). The strengthened leadership team is expected to play a crucial role in managing the bank’s growth strategy, regulatory requirements and operational efficiency.
Industry observers believe Sharma’s appointment is particularly significant because he brings deep expertise in financial planning, investor engagement and balance-sheet management. His experience in handling finance operations at one of India’s leading private-sector banks is expected to help HDFC Bank navigate evolving market conditions and regulatory expectations.
Similarly, the appointment of Jigar Shah is seen as a move to further strengthen legal and governance capabilities at a time when financial institutions are operating in an increasingly complex regulatory environment. Strong legal oversight has become a critical component of risk management for large banking organizations.
The announcements have drawn attention from investors, with market participants viewing the appointments as part of HDFC Bank’s broader succession planning and governance framework. Analysts noted that the combination of new leadership in finance, legal affairs and the boardroom reflects the bank’s efforts to reinforce confidence among shareholders and regulators.
HDFC Bank remains India’s leading private-sector bank and continues to focus on expanding its retail and corporate banking businesses while investing in digital transformation, technology and customer services. The newly appointed executives are expected to play key roles in supporting these priorities over the coming years