Atanu Chakraborty has resigned from his position as part-time chairman and independent director of HDFC Bank, effective immediately. The bank announced the appointment of Keki Mistry as interim part-time chairman, beginning March 19, 2026, for a period of three months, following approval from the Reserve Bank of India (RBI).
Leadership Transition at HDFC Bank
Chakraborty’s resignation comes after two years on the board, a period that included overseeing the merger between HDFC Bank and HDFC Ltd. He stated in his resignation letter that “certain happenings and practices within the bank” were not aligned with his personal values, and ethics. The bank confirmed that this was the sole reason for his departure.
Mistry, who has been appointed as interim chairman, currently serves as a non-executive, non-independent director on the bank’s board. Prior to the July 1, 2023, amalgamation, he was the vice chairman and chief executive officer of Housing Development Finance Corporation Limited (HDFC Ltd).
Chakraborty noted that while the merger created the second largest bank in the country, “the benefits of the merger are yet to fully fructify.” The bank’s board expressed its appreciation for Chakraborty’s contributions during his tenure.
Chakraborty, a retired 1985-batch officer of the Indian Administrative Service, does not hold directorship in any other company, according to the bank’s filing.
Frequently Asked Questions
What prompted Atanu Chakraborty’s resignation?
Chakraborty resigned due to concerns over “certain happenings and practices” within the bank that he stated were not in congruence with his personal values and ethics.
Who has been appointed as the interim chairman?
Keki Mistry has been appointed as interim part-time chairman of HDFC Bank, effective March 19, 2026, for a period of three months.
What was Atanu Chakraborty’s role prior to becoming chairman of HDFC Bank?
Chakraborty is a retired officer of the Indian Administrative Service and previously served as secretary, Department of Economic Affairs in the Ministry of Finance.
How might this leadership change affect the ongoing integration of HDFC Bank and HDFC Ltd?
