HDFC Bank announced the immediate resignation of Atanu Chakraborty as part-time chairman and independent director. The lender disclosed this in a late Wednesday exchange filing.
Interim Leadership Appointment
Keki Mistry steps in as interim part-time chairman effective March 19, 2026, for three months, following Reserve Bank of India approval. Mistry currently holds the position of non-executive, non-independent director on the bank’s board. He previously served as vice chairman and chief executive officer of Housing Development Finance Corporation Limited before its merger with HDFC Bank on July 1, 2023.
Reasons for Departure
In his resignation letter, Chakraborty stated: “Certain happenings and practices within the bank, that I have observed over the last two years, are not in congruence with my personal values and ethics.” He highlighted key events during his tenure, including the HDFC Ltd merger, which positioned HDFC Bank as India’s second-largest bank. “Though the benefits of the merger are yet to fully fructify,” Chakraborty noted.
The bank confirmed no additional reasons exist for his exit beyond those in the letter. Chakraborty holds no directorships in other companies.
Board’s Acknowledgment
The board expressed appreciation for Chakraborty’s contributions and extended best wishes for his future endeavors.
Professional Background
A 1985-batch Indian Administrative Service officer from the Gujarat cadre, Chakraborty brings over 35 years of government service. He served as secretary in the Department of Economic Affairs, Ministry of Finance, influencing India’s economic policies and Union Budget processes. He also led the Department of Investment and Public Asset Management and worked in finance, petroleum, infrastructure, and industry sectors. HDFC Bank appointed him part-time chairman in 2021.
