HDFC Bank CEO choice: Internal or external candidate? Macquarie, ex-RBI official weigh in

Macquarie's Suresh Ganapathy and former RBI Deputy Governor SS Mundra disagree on whether HDFC Bank should hire its next CEO from inside or outside the bank. Ganapathy expects the stock to trade range-bound if an internal pick is named, but sees upside for a strong external hire. Mundra favors an internal candidate benchmarked against outside talent, citing the time needed to build institutional depth.