Atanu Chakraborty has stepped down as Part-time Chairman and Independent Director of HDFC Bank, effective March 18, 2026. Following this, the Reserve Bank of India has approved as interim Part-time Chairman for three months, starting March 19, 2026.
Mistry will guide the board as the bank searches for a permanent successor, at a time when it continues to navigate the complexities of its expanded operations following the merger.
In his resignation letter, Chakraborty stated that his tenure since joining the board in May 2021 coincided with a phase of significant structural transformation. He referred to the merger of HDFC Bank and HDFC Ltd as a key milestone, adding that while it created one of India’s largest financial institutions, its full benefits are yet to be realised.
As per the letter, he attributed his departure to differences with the bank’s internal culture and operations. Chakraborty noted that certain practices observed over the past two years which did not align with his personal values and ethics, clarifying that these concerns formed the basis of his decision and that there were no other material reasons behind his resignation.
Despite the concerns about the bank’s practices, Chakraborty expressed strong appreciation for the talent within the organisation. He highlighted the energy and enthusiasm of employees at the middle and junior levels, suggesting they should form the core of a reimagined organisation going forward. He also conveyed gratitude for the support extended by the secretarial, compliance, and audit teams during his tenure
