Mr. Puri's citation
"HDFC Bank has regularly been one of the most highly admired banks in India for its performance, and one of the reasons for this has been the constant, rock-solid leadership of its managing director Aditya Puri. In transforming
HDFC Bank into a world class Indian bank, Puri has kept his eye on the ball by pursuing growth with quality. During his 13-year odyssey at the bank as its founding managing director, Puri has helped alter India's financial landscape and has made a positive difference to a larger section of society, particularly in his admirable view of focusing on growth in rural markets. In 2006, he also notably achieved the lowest asset impairments, highest cost efficiencies and best quality growth in core deposit generation among all of the Indian banks, showing his firm grasp on the important operational points that has honed the bank into a smoothly humming machine. His skilled leadership has seen HDFC stay away from irrational pricing strategies pursued throughout 2006 in the Indian market: considering the irrational pricing of his competitors, and the cool head he keeps about himself staying out of markets that don't make sense, Puri's example of managing a successful bank in a rapidly emerging market sets the pace for banks all around the region. It is for all of these reasons that the judges of the Asian Banker Achievement Awards advisory council have chosen for the Achievement award for India Mr. Aditya Puri, Managing Director of HDFC in India."