Athira Sethu
Kochi, 24 March 2026
HDFC Bank share ended 3% up at Rs 766.50 in NSE on Tuesday as the private sector lender said it has appointed external law firms to review the resignation letter of its part-time chairman Atanu Chakraborty.
Chakraborty resigned from the position of the part-time chairman of the bank a week ago, claiming that there was a divergence of views with the bank over “values and ethics.”
The bank previously stated that the sudden resignation of Atanu Chakraborty, which led to a fall in the shares of the bank, could be a result of a divergence of views between Atanu Chakraborty and the management of the bank. However, HDFC Bank stated that there was nothing serious going on in the bank.
The bank stated that it has engaged both local and international legal firms to scrutinize the resignation letter of Atanu Chakraborty, but Atanu Chakraborty did not mention anything against the values and ethics of the bank.
The Reserve Bank of India (RBI) also intervened in the issue a week ago, assuring the public that the HDFC Bank was financially sound and well-managed, and there was nothing serious to worry about in the bank.
As a part of this transition process, the RBI has appointed Keki Mistry, a long-time executive at HDFC Group, as the interim non-executive chairman for a period of three months.
Chakraborty, who took on the role of part-time chairman in April 2021 and was appointed for a term until May 2027, has been instrumental in the $40 billion merger deal between HDFC Bank and HDFC Ltd., which created a giant in the Indian financial services sector.
