HDFC Bank Defends Governance Standards After Chairman Exit

In the wake of former Chairman Atanu Chakraborty's sudden resignation, HDFC Bank's interim Part-time Chairman Keki Mistry has issued a firm assurance regarding the bank's corporate governance standards. Chakraborty stepped down on March 18, 2026, leading to speculation about the bank's internal controls.

In the bank's annual report, Mistry stated: 'In my capacity as the interim Part-time Chairman of HDFC Bank, I, together with the board of the bank, would like to assure you that the bank remains strongly rooted in strong corporate governance principles and values.' He emphasised the bank's commitment to 'the highest standards of transparency, accountability and oversight'.

Mistry added that any issue requiring review would be addressed through 'established processes' and in the long-term interests of shareholders and other stakeholders. The bank has not disclosed specific reasons for Chakraborty's exit, but Mistry's remarks aim to quell concerns about governance lapses.

HDFC Bank, one of India's largest private sector banks, has a history of strong compliance and risk management. The board has initiated a search for a new part-time chairman.