HDFC Bank hires law firm to review ex-chairman’s resignation

Atanu Chakraborty cited “certain happenings and practices” in the bank as the reason for his resignation.

HDFC Bank has appointed an external law firm to review its former part-time chairman’s resignation.

In a statement, India’s largest private sector bank called the move “a proactive measure…to independently look at the aspects mentioned in the letter so as to ensure an object and fact-based assessment.”

“This step is keeping in view to constantly benchmark with the highest governance standards that the Bank has practiced over decades,” HDFC Bank said in a media statement published on 24 March 2026.

In a letter dated 17 March 2026, part-time chairman Atanu Chakraborty resigned from his post, citing “certain happenings and practices within the bank, that I have observed over the last two years”, which he said are not in congruence with his personal values and ethics.

In the letter, Chakraborty also mentioned of the bank’s 2023 merger with HDFC Ltd., stating that “benefits of the merger are yet to fully fructify.”

He also pointed out a “great amount of energy and verve in the middle and junior levels of the organisation,” which he said form the core of a reimaged organisation.

On 19 March, The Reserve Bank of India said that it has “taken note” of recent developments in HDFC Bank.