Atanu Chakraborty has resigned as part-time chairman and independent director of HDFC Bank with immediate effect, the lender said in an exchange filing late on Wednesday. It added that Keki Mistry has been appointed interim part-time chairman with effect from March 19, 2026, for a period of three months, following approval from the Reserve Bank of India (RBI).
Mistry was currently serving as a non-executive, non-independent director on the bank’s board. He was previously the vice chairman and chief executive officer of Housing Development Finance Corporation Limited (HDFC Ltd) prior to its amalgamation with the bank with effect from July 1, 2023.
In his resignation letter, Chakraborty wrote: “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, he said, was the reason behind his resignation.
Chakraborty added that his tenure as part-time chairman saw events such as the merger of HDFC Ltd with the bank, which created a larger entity under the bank. “This strategic initiative made HDFC Bank the second largest bank in the country. Though, the benefits of the merger are yet to fully fructify,” he said.
The bank confirmed that there are no other reasons for his departure beyond those stated in the letter. Chakraborty does not hold directorship in any other company, the filing added.
“The Board of Directors placed on record its appreciation for Chakraborty’s contributions during his tenure and wished him success in his future endeavours,” the bank said in the exchange filing.
Chakraborty is a retired 1985-batch officer of the Indian Administrative Service (Gujarat cadre), with over 35 years in government service. He served as secretary, Department of Economic Affairs in the Ministry of Finance, playing a key role in India’s economic policy and Union Budget processes. He also headed the Department of Investment and Public Asset Management (DIPAM) and worked across sectors such as finance, petroleum, infrastructure, and industry.
Chakraborty was appointed part-time chairman of HDFC Bank in 2021.
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