Puri, who counts JP Morgan CEO Jamie Dimon as one of his inspirations, says the biggest challenge of his career was to scale up HDFC bank
The two titans of Indian banking also spoke about what it takes to succeed in the highly competitive and byzantine financial services sector
Leading bankers welcome term loan installment moratorium announced as economic relief
Puri expressed satisfaction that he was passing on the baton to Sashidhar Jagdishan, who is the "worthiest person" to lead the bank
Delivering steady profit growth in high teens is the hallmark of his stint spanning 26 years
Most brokerages have given a thumbs-up to the development, saying the appointment of an internal candidate will make the transition and subsequent handling of operations at the bank easier
Mr Puri's successor has to match his stellar track record
He joined the Bank in the 1996 and heads finance, human resources, and other departments
Few have matched the HDFC Bank chief's longevity at the crease, within and outside the banking industry; a non-nonsense leader, he had a particular dislike for liars and the incompetent
Apart from navigating the bank through the Covid scare, Jagdishan may also have to deal with new developments in auto loan practice scam, and senior manager exits at the bank
Change is the only constant, and when an "icon" has to make way for a successor, there is normally a turbulence, both within the organisation as well as outside, especially among the stakeholders
The stock is, however, unlikely to outperform, say analysts, who feel the issues related to the moratorium induced across the financial sector due to Covid-19 pandemic will weigh on the sentiment
Aditya Puri, who is set to retire from the bank in October, has been the longest serving MD of a private bank in India
Economic Affairs Secretary Tarun Bajaj says he is certain that a V-shaped economic recovery will take a year.
Puri, the longest serving MD of a private bank in India, has been at the helm of HDFC Bank for the last 26 years, since its inception in 1994
Puri's term is set to end in October when he attains the age of 70 and he will be second chief executive after Indusind Bank's Romesh Sobti to retire this year
The RBI is also seeking information on steps taken by HDFC Bank to remedy any issues identified during the investigation, the people added, asking not to be named.
Seeking to assuage concerns on training and business understanding, he also said the candidate has "learnt very well".
The banker, who is set to retire in this October on turning 70, had earned Rs 42.20 crore by exercising stock options in 2018-19
HDFC Bank MD Aditya Puri said his group would emerge from the coronavirus crisis stronger than before