Atanu resigns as HDFC Bank chairman citing ethical concerns

In a sudden move, Atanu Chakraborty resigned as chairman of the country’s second biggest lender HDFC Bank citing ethical concerns.

This is the first time that the part-time chairman of HDFC Bank left mid-way raising concerns over its functioning.

“Certain happenings and practices within the bank, that I have observed over the last two years, are not in congruence with my personal values and ethics. This is the basis of my aforementioned



decision,” he said in his resignation letter dated March 17.

In a letter addressed to Chairman of Governance, Nomination, Remuneration Committee H K Bhanwala, Chakraborty said that “There are no other material reasons for my resignation other than those stated above.” 

In a late evening filing, HDFC Bank said Chakraborty has on March 18, 2026, tendered his resignation as the Part-time Chairman and Independent Director of the Bank with immediate effect.