HDFC Bank Chairman Quits Over Ethics, Mistry Steps In as Interim Head

HDFC Bank’s part-time chairman and independent director Atanu Chakraborty has resigned with immediate effect, flagging “certain happenings and practices” at the private lender that he said were not in line with his personal values and ethics, the bank said in a regulatory filing.

The Reserve Bank of India has approved the appointment of Keki Mistry, a veteran HDFC hand, as interim part-time chairman for three months from March 19, 2026. 

Chakraborty said, in his resignation letter, his decision was based on "Certain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal values and ethics”.

HDFC Bank has in the recent past faced regulatory unease with two RBI monetary penalties in 2024 and 2025 for KYC lapses, outsourcing violations and interest rate irregularities, and SEBI warning letters for merchant banking and custody non-compliance.