HDFC Bank's CEO Shashidhar Jagdishan Reveals Board Pressured Former Chairman Atanu Chakravarti to Reconsider Resignation HDFC Bank's chief executive officer and managing director Shashidhar Jagdishan disclosed that the bank's board had urged former chairman Atanu Chakravarti to reconsider his resignation and clarify his ethical concerns. Jagdishan stated that the board had requested Chakravarti to provide detailed explanations about the allegations in his resignation letter and to revise the language used. The board's discussions with the Reserve Bank of India (RBI) regarding the matter led to the appointment of Keki Mistri as interim chairman for three months. Chakravarti's resignation, which cited ethical issues, sparked widespread speculation about internal conflicts within the bank. Jagdishan confirmed that the board had repeatedly asked Chakravarti to clarify his claims but received no specific examples. The board members expressed surprise at the lack of transparency in Chakravarti's letter, which did not elaborate on the alleged misconduct. Mistri, who previously served as the managing director of HDFC, emphasized that the bank operates with transparency and integrity. He stated that if he had any doubts about the allegations, he would not have taken on the role. Mistri also mentioned that the board would convene a meeting within a month to discuss Jagdishan's reappointment and the selection of a new chairman, as Jagdishan's tenure was set to end in seven months. The board's response to Chakravarti's resignation highlighted the complexity of the situation. While some members suggested the dispute might involve personal matters, they declined to comment further. Free director M. D.#reserve_bank_of_india #hdfc_bank #shashidhar_jagdishan #atanu_chakravarti #keki_mistri
