HDFC Bank has moved to reassure stakeholders following the resignation of its part-time Chairman Atanu Chakraborty, asserting that there are no regulatory or operational concerns linked to his exit, while appointing Keki Mistry as interim chairman for three months.
Addressing the media, Mistry said, “I wish to assure all stakeholders no material matters at this point, no specific happenings brought to our attention, operational or otherwise.” He added that the board has accepted Chakraborty’s resignation and “would like to wish him the very best in his future endeavours.”
Reiterating confidence in the bank, the Reserve Bank of India has indicated that HDFC Bank remains financially sound with a professionally run board, with sources maintaining that there is “nothing wrong with HDFC Bank or its conduct.”
Mistry said the bank’s management and leadership team remain aligned and committed to strong governance practices. “Management and leadership team stands together and ensures best governance practices are maintained,” he said, adding, “I would not personally have taken on the responsibility if it didn’t align with my values.”
On leadership continuity, the bank said its Nomination and Remuneration Committee will consider CEO Sashidhar Jagdishan’s reappointment in the near future. Reflecting on the functioning of large institutions, Mistry said, “Small issues keep cropping up at large organisations.”
Earlier in the day, sources told CNBC-TV18 that Chakraborty’s departure is not linked to the bank’s conduct or any regulatory concern. Chakraborty, who had been on the board since May 2021, stepped down, citing developments over the past two years that were “not congruent with his personal values and ethics.” Mistry also noted that Chakraborty had assured the board there were no “regulatory issues” behind his resignation.
