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Context from Wikipedia on the organisations, people and places in this story.
Indian banking and financial services company
HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai. Incorporated in August 1994, it officially commenced operations in January 1995 upon receiving its banking license from Reserve Bank of India. It is India's largest private sector bank by assets and market capitalisation. In 2025, HDFC became the 10th largest bank in the world by market capitalisation.
More on Wikipedia ↗In response to the announcement of Anup Bagchi's appointment as the new MD & CEO, the US-listed shares of HDFC Bank or American Depository Receipts (ADRs), gained as much as 5.5% on Thursday before paring some of those gains to end 3% higher. The ADRs ended another 2.7% lower on to reverse all of Thursday's gains.…