In a key leadership change, Atanu Chakraborty has resigned as part-time Chairman and Independent Director of HDFC Bank with immediate effect.
The bank announced in an exchange filing that Keki Mistry has been appointed as interim part-time Chairman from March 19, 2026, for a period of three months, following approval from the Reserve Bank of India.
Reason Behind Resignation
- In his resignation letter, Atanu Chakraborty cited concerns over certain practices within the bank, stating that they were not aligned with his personal values and ethics.
- He clarified that this was the primary reason for stepping down from the position.
- The bank also confirmed that no additional reasons were involved in his resignation beyond those mentioned in his letter.
Role of Keki Mistry
- Keki Mistry, who has been appointed interim Chairman, currently serves as a non-executive, non-independent director on the board of HDFC Bank.
- He previously held key leadership roles at Housing Development Finance Corporation Limited (HDFC Ltd), where he served as Vice Chairman and CEO before its merger with HDFC Bank in July 2023.
Tenure Highlights of Atanu Chakraborty
- During his tenure as Chairman, one of the most significant developments was the merger of HDFC Ltd with HDFC Bank, which created a much larger financial entity.
- This strategic move made HDFC Bank the second-largest bank in India.
- Chakraborty noted that while the merger was a major milestone, its full benefits are yet to be realised.
Professional Background
Atanu Chakraborty is a retired IAS officer (1985 batch, Gujarat cadre) with over 35 years of experience in public service.
He has held several important positions, including:
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Secretary, Department of Economic Affairs under the Ministry of Finance
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Head of Department of Investment and Public Asset Management (DIPAM)
He has contributed significantly to economic policymaking, Union Budget formulation, and public asset management in India.
Board’s Response
The Board of Directors of HDFC Bank expressed appreciation for Chakraborty’s contributions during his tenure and wished him success in his future endeavours.