HDFC Bank on Thursday clarified that there are no reasons behind the exit of its Part-time Chairman and Independent Director Atanu Chakraborty other than those stated in his resignation letter.
In a regulatory filing, the bank said Chakraborty stepped down with immediate effect on March 18, 2026, and explicitly confirmed that "there are no reasons other than those mentioned in the said letter" for his exit.
Also Read: Atanu Chakraborty quits as HDFC's part-time chairman, says bank's practices 'not in congruence with my ethics’
Earlier, Atanu Chakraborty resigned as from his posts , citing concerns over "certain happenings and practices" at the bank that he said were not aligned with his personal values and ethics.
The clarification comes amid heightened media scrutiny around his exit, with the bank seeking to firmly rule out any undisclosed factors behind the move.
The board also placed on record its appreciation for Chakraborty’s contribution during his tenure and wished him success in his future endeavours.
Also Read: HDFC Bank shares in focus as Atanu Chakraborty quits, says certain values didn’t align; ADRs tumble 7%
Following his resignation, the Reserve Bank of India has approved the appointment of Keki Mistry as interim Part-time Chairman for a period of three months, effective March 19, 2026.
The transition ensures continuity in leadership at India’s largest private sector lender by market capitalisation, even as the bank moves to find a permanent replacement.
Shares of the lender, could witness selling pressure heading into trade on Thursday following a leadership change at the top
In a regulatory filing, the bank said Chakraborty stepped down with immediate effect on March 18, 2026, and explicitly confirmed that "there are no reasons other than those mentioned in the said letter" for his exit.
Also Read: Atanu Chakraborty quits as HDFC's part-time chairman, says bank's practices 'not in congruence with my ethics’
Earlier, Atanu Chakraborty resigned as from his posts , citing concerns over "certain happenings and practices" at the bank that he said were not aligned with his personal values and ethics.
The clarification comes amid heightened media scrutiny around his exit, with the bank seeking to firmly rule out any undisclosed factors behind the move.
The board also placed on record its appreciation for Chakraborty’s contribution during his tenure and wished him success in his future endeavours.
Also Read: HDFC Bank shares in focus as Atanu Chakraborty quits, says certain values didn’t align; ADRs tumble 7%
Following his resignation, the Reserve Bank of India has approved the appointment of Keki Mistry as interim Part-time Chairman for a period of three months, effective March 19, 2026.
The transition ensures continuity in leadership at India’s largest private sector lender by market capitalisation, even as the bank moves to find a permanent replacement.
Shares of the lender, could witness selling pressure heading into trade on Thursday following a leadership change at the top
