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Informist, Thursday, Mar. 19, 2026

 

--RBI: Taken note of the recent developments in HDFC Bank
--Will continue to engage with HDFC Bank's board, mgmt going forward 
--HDFC Bank remains well-capitalised, fincl position satisfactory 
--No material concerns on record in HDFC Bank's conduct, governance 

 

NEW DELHI – HDFC Bank Ltd. is a domestic systemically important bank with sound financials, a professionally run board and a competent management team, the Reserve Bank of India said Thursday. This comes in the backdrop of director and part-time chairman of the bank, Atanu Chakraborty, resigning from his post on Wednesday with immediate effect. "Reserve Bank will continue to engage with the Board and management on the way forward," the regulator said in a statement.

 

"Basis our periodical assessment, there are no material concerns on record as regards its conduct or governance. The bank remains well-capitalised and the financial position of the bank remains satisfactory with sufficient liquidity," the regulator said.

 

Taking note of the recent developments in HDFC Bank, the RBI has approved a transition arrangement regarding the position of part-time chairman at the bank, it said. Following Chakraborty's resignation, the bank appointed Keki Mistry as interim part-time chairman effective Thursday for three months.

 

Chakraborty resigned as part-time chairman of the bank saying "certain practices and happenings within the bank" over last two years were not in congruence with his personal "values and ethics." He also confirmed that there were no other material reasons for his resignation. Chakraborty had joined HDFC Bank's board in 2021.

 

In a conference call Thursday, the private sector bank said Chakraborty did not mention any regulatory aspect of the bank nor did he share any specific issues while resigning. He said the differences were based on his value system, the bank's management said. The bank acknowledged that the latest developments were a "little baffling" at this point of time. However, the lender said it would get to the root cause of the reasons cited by Chakraborty for his resignation in due course.

 

Reacting to the latest development, shares of HDFC Bank fell sharply and were down 5% at INR 803.50 on the National Stock Exchange, at 1130 IST.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Sagar Sen and Pratiksha

Edited by Tanima Banerjee

 

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