India's HDFC Bank Chairman Resigns Over Ethical Issues, Stock Price Falls 4%

GateNews

2026-03-19 13:03:58

Gate News reports that on March 19, HDFC Bank (India’s second-largest bank) stock price fell 4% to ₹808.80 after its part-time chairman Atanu Chakraborty resigned citing moral issues. Chakraborty stated that the resignation was due to governance issues conflicting with his personal values. The Reserve Bank of India has approved Keki Mistry to serve as interim part-time chairman for a three-month term starting March 19. Chakraborty joined the board in 2021 and led the merger between HDFC Bank and Housing Development Finance Corporation valued at $40 billion, which solidified HDFC Bank’s position as India’s second-largest bank.

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