Following the resignation of HDFC Bank chairman Atanu Chakraborty, the bank’s board members held a conference call with journalists on Thursday, March 19, 2026, and expressed that they were “baffled” by the resignation.
“We are not sure what triggered the resignation,” said Sashidhar Jagdishan, MD and CEO of HDFC Bank.
HDFC Responds to Atanu Chakraborty resignation
Meanwhile, interim chairman Keki Mistry explained that when the board asked Mr. Chakraborty about his resignation, he said there was “no personal reason.” Mr.Mistry mentioned that the resignation was due to a “personal relationship issue” but did not provide further details.
He emphasized that the corporate governance at the bank is strong and the RBI has approved it. “I am 71 years old. If the governance at the bank were not very strong, I would not have taken on this responsibility,” said Mr.Mistry.
Work to support governance standards
The full board continues to support the bank and its governance standards as well as its capital adequacy, Mr.Mistry added.
On Wednesday, March 18, 2026, Mr.Chakraborty resigned as the part-time chairman and independent director of HDFC Bank said, “Certain happenings and practices within the bank that I have observed over the last two years are not in line with my personal values and ethics. This is the basis of my decision.”
“I confirm that there are no other significant reasons for my resignation other than those mentioned above,” he noted in his resignation letter.
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