New Delhi, Sept. 12 -- HDFC Bank has submitted the names of two candidates to the Reserve Bank of India (RBI) for the position of Managing Director and Chief Executive Officer, according to an exchange filing.

The move comes as current MD and CEO Sashidhar Jagdishan prepares to step down at the end of his second term in October. Jagdishan has led HDFC Bank since 2020.

Under Indian banking rules, private-sector lenders require prior RBI approval for the appointment of their managing director and CEO, giving the central bank a key role in the selection and vetting of senior leadership.

Alongside the CEO succession process, HDFC Bank's board approved the reappointment of V Srinivasa Rangan as a Whole-time Director, designated as Executive...