Atanu Chakraborty has resigned as part-time chairman of HDFC Bank Ltd. with immediate effect, citing a breakdown in alignment between the lender's internal practices and his personal ethics.
Chakraborty, a former bureaucrat, wrote in his resignation letter that '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.'
The Reserve Bank of India has approved the appointment of Keki Mistry—the last CEO of Housing Development Finance Corp. Ltd. before the HDFC Bank merger—as interim part-time chairman of the lender.
Analysts suggest that the explicit mention of 'happenings and practices' will likely force the RBI to take a closer look at the bank's internal governance frameworks.
