Atanu Chakraborty resigned as part-time chairman and independent director of HDFC Bank on March 18, 2026, citing ethical concerns over certain practices within the bank. In his resignation letter, he stated that the observed actions over the past two years “are not in congruence with my personal values and ethics,” which led to his decision to step down. He emphasized that there were no other material reasons for his resignation beyond those outlined in the letter. HDFC Bank confirmed in a regulatory filing that Chakraborty’s resignation was solely based on the reasons he provided. The bank also noted that it had applied for approval to appoint Keki Mistry as interim part-time chairman, which was granted by the Reserve Bank of India on the same day. Mistry will hold the position from March 19, 2026, for a three-month period. Chakraborty joined the bank’s board in May 2021, a tenure that coincided with significant developments, including the merger of HDFC Bank with HDFC Ltd. This merger created a financial conglomerate, positioning HDFC Bank as the second-largest bank in the country. In his resignation letter, Chakraborty acknowledged the strategic initiative but noted that “the benefits of the merger are yet to fully fructify.” The resignation comes amid ongoing discussions about governance and operational practices within the banking sector. Chakraborty’s departure marks a notable shift in leadership for HDFC Bank, which has been navigating challenges related to regulatory compliance and competitive pressures in the industry. The interim chairman’s role will be critical in maintaining stability during the transition period.#reserve_bank_of_india #hdfc_bank #atanu_chakraborty #keki_mistry #hdfc_ltd
