Atanu Chakraborty Calls Resignation From HDFC Bank "Routine"

In his first response following his resignation, Atanu Chakraborty, former Non-Executive Chairman of HDFC Bank, described the development as a routine matter and declined to elaborate on the circumstances surrounding his exit.

"That's (resignation) on the exchange website. Nothing worth discussion. It's quite routine," said Chakraborty, indicating that the details of his resignation have already been disclosed through official channels.

Chakraborty, a former secretary, Department of Economic Affairs, Finance Ministry, had been serving as the Non-Executive Chairman of HDFC Bank, one of India's largest private sector lenders.

Amid recent developments at HDFC Bank, the Reserve Bank of India on Thursday sought to reassure stakeholders, stating that the bank remains financially sound and well-governed.

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The RBI said it has "taken note of the recent developments" and approved a transition arrangement regarding the position of Part-Time Chairman, as requested by the bank.

The clarification comes in the backdrop of former Non-Executive Chairman Atanu Chakraborty's resignation, which he had earlier described to ANI as "quite routine" and “nothing worth discussion.”

Emphasising the bank's stability, the RBI noted that HDFC Bank, classified as a Domestic Systemically Important Bank (D-SIB), continues to have “sound financials, a professionally run board and a competent management team.”

It further added that based on its periodic assessment, “there are no material concerns on record as regards its conduct or governance.”

The central bank also underscored that the bank remains "well-capitalized" with a “satisfactory financial position and sufficient liquidity.”

The RBI said it will continue to engage with the board and management of HDFC Bank on the way forward, signalling close regulatory oversight while maintaining confidence in the institution.