Certain happenings & practices within HDFC Bank not in congruence with my personal Values & Ethics: Atanu Chakraborty, Part-time Chairman & Independent Director, HDFC Bank
FinTech BizNews Service
Mumbai, March 20, 2026: Mr Atanu Chakraborty, Part-time Chairman & Independent Director, HDFC Bank, had tendered his resignation letter on 17/02/2029. Mr Atanu Chakraborty, in his resignation letter addressed to Dr. Bhanwala, The Chairman Governance, Nomination, Remuneration Committee HDFC Bank, stated: “I hereby tender my resignation from as Part- time Chairman and Independent Director on the Board of HDFC Bank, with effect from its Date of its consideration by Board of HDFC Bank. I joined the Board of HDFC Bank in May 2021. My tenure on the Board saw momentous events like merger of the bank with HDFC Ltd that created a conglomerate under the Bank. This strategic initiative made HDFC Bank the second largest Bank in the country. Though, the benefits of merger are yet to fully fructify. 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.
I would like to express my sincere appreciation to the Board and senior management for their cooperation and support during my tenure. I express my gratitude to all the Independent Directors and Non-Executive Directors, who spared their valuable time and shouldered onerous responsibilities on the Board and its Committees. It has been a privilege to contribute to the growth and governance of the Bank. I observed great amount of energy and verve in the middle & junior levels of the organization, that should form the core of a reimaged organization. I also place on record my sincere appreciation for Secretarial, Compliance, Audit and Group oversight functions. Kindly instruct Company Secretary to take this letter on record and arrange to file the necessary intimations with the Registrar of Companies and other regulatory authorities as required under applicable law.
I wish the Bank continued success in all its future endeavors.”
Approval for the appointment of Keki Mistry as an interim Parttime Chairman
HDFC Bank, as part of Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 about resignation of Mr. Atanu Chakraborty as a Part-time Chairman and Independent and appointment of Mr. Keki Mistry as an interim Part-time Chairman of the Bank, informed the Stock exchanges NSE & BSE that Mr. Atanu Chakraborty (DIN: 01469375) had on Wednesday i.e. on March 18, 2026, tendered his resignation as the Part-time Chairman and Independent Director of the Bank with immediate effect, for reasons mentioned in the resignation letter. We confirm that there are no reasons other than those mentioned in the said letter, for the resignation of Mr. Chakraborty. Further, Mr. Chakraborty does not hold directorship in any other company. The Board of Directors places on record its appreciation for during his tenure and wishes him all the success in his future endeavours. 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 Mr. Keki Mistry (DIN: 00008886) as an interim Parttime Chairman of the Bank with effect from March 19, 2026, for a period of 3 months.”
