HDFC Bank Share Price Under Pressure Following Resignation of Part-Time Chairman Atanu Chakraborty

HDFC Bank Share Price in Focus Following Chairman's Resignation

HDFC Bank, India's largest private lender, will be under scrutiny after the sudden resignation of Atanu Chakraborty, Part-time Chairman and Independent Director, effective immediately. This development has led to a significant decline in the bank's American Depositary Receipts (ADRs) on the NYSE, which ended 7.28% lower at $26.62 apiece.

In a move to fill the vacant position, HDFC Bank has appointed Keki Mistry, former CEO of HDFC Ltd., as the interim Part-time Chairman, effective March 19, 2026, for a period of 3 months. This appointment was made possible with the approval from the Reserve Bank of India (RBI).

Atanu Chakraborty's resignation comes after a three-year term, which was reappointed in May 2024 for a further term extending through May 4, 2027. In his resignation letter, Chakraborty cited that certain happenings and practices within the bank were not in line with his personal values and ethics.

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HDFC Bank's share price has been volatile over the past few days, with the stock ending 0.34% lower at ₹842.95 apiece on the BSE on Wednesday. The bank's share price is expected to be in focus in the coming days following this development.