File picture of Atanu Chakraborty. Photo: Special Arrangement
Following the resignation of HDFC Bank chairman Atanu Chakraborty, the bank’s board members, on a convention name with journalists on Thursday (March 19, 2026), mentioned that they have been “baffled” by the resignation.
“We are not sure what triggered the resignation,” mentioned Sashidhar Jagdishan, MD and CEO of HDFC Bank.
Meanwhile interim chairman Keki Mistry mentioned that when the board requested Mr. Chakraborty concerning the motive for his resignation, he mentioned “no personal reason”. The resignation was a “personal relationship issue”, Mr. Mistry mentioned with out additional elaborating.
He asserted that the corporate governance on the financial institution is powerful and the RBI has ratified it. “I am 71 years old. Had the governance at the bank been not very strong, I would not have taken up this responsibility” mentioned Mr. Mistry.
The full board has reposed its religion within the financial institution and it’s governance requirements in addition to capital adequacy, Mr. Mistry mentioned.
On Wednesday (March 18, 2026), Mr. Chakraborty resigned because the part-time chairman and unbiased director of HDFC Bank saying, “Certain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal Values and Ethics. This is the basis of my aforementioned decision.”
“I confirm that there are no other material reasons for my resignation other than those stated above,” he mentioned in his resignation letter.
The sudden resignation despatched the bank’s share costs crashing 4.45% on Thursday (March 19, 2026), because the markets opened.
Published – March 19, 2026 04:57 pm IST