HDFC Bank chairman Atanu Chakraborty resigns on ethical ground

Atanu Chakraborty on Wednesday (March 18, 2026) tendered his resignation as the Part-time Chairman and Independent Director of HDFC Bank with immediate effect stating “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,” he said in his resignation letter.

“I confirm that there are no other material reasons for my resignation other than those stated above,” his letter added.

The bank in a filing with exchanges said, “We confirm that there are no reasons other than those mentioned in the said letter, for the resignation of’ Mr. Chakraborty.”

Further, based on an application made by the Bank in this regard, the Reserve Bank of India on March 18, 2026, has granted its approval for the appointment of Keki Mistry as an interim Part-time Chairman of the Bank with effect from March 19, 2026, for a period of 3 months.

Mr Chakraborty had joined the Board of HDFC Bank in May 2021 and his tenure on the Board saw momentous events like merger of the bank with HDFC Ltd that created a conglomerate under the Bank.

“This strategic initiațive made HDFC Bank the second largest Bank in the country. Though, the benefits of merger are yet to fully fructify,” he said in his letter.