Keki Mistry Takes the Helm as Interim Chairman of HDFC Bank: What This Means for the Future

Keki Mistry has stepped in as the interim part-time Chairman of HDFC Bank following the resignation of Atanu Chakraborty. This appointment, approved by the Reserve Bank of India, comes amid discussions about the bank's governance and ethical practices. Mistry, at 71, accepted the role aligning with his values, while the RBI reassured that there are no significant concerns regarding the bank's operations. As HDFC Bank navigates this transition, its shares have experienced a notable decline. Read on to explore the implications of this leadership change and the bank's financial health.

By Narendra Chaudhary Mar 19, 2026, 13:15 IST

Keki Mistry Appointed Interim Chairman of HDFC Bank

Mumbai: The Reserve Bank of India (RBI) has sanctioned the appointment of seasoned banker Keki Mistry as the interim part-time Chairman of HDFC Bank, effective from March 19 for a duration of three months. Following this announcement, the bank conducted a conference call with analysts where Mistry expressed that he accepted this role as it resonated with his personal values.

At the age of 71, Mistry remarked, “I wouldn’t have taken on this responsibility if it didn’t align with my principles.”

He elaborated that the events leading to his appointment unfolded swiftly after Atanu Chakraborty's resignation, with several board members promptly engaging with the RBI.

Mistry noted, “The developments occurred on very short notice. After the Board meeting and the resignation, some directors met with the RBI.”

He emphasized that the central bank's quick approval signifies its confidence in the bank's current situation.

Mistry stated, “The RBI's rapid endorsement of my appointment suggests that it is at ease with the circumstances at the bank.”

In a recent statement, the RBI confirmed that there are “no material concerns” regarding HDFC Bank’s governance or operations following Chakraborty’s resignation due to ethical disagreements.

The central bank reassured that the bank remains well-capitalized and its financial health is satisfactory.

The RBI acknowledged the recent changes at HDFC Bank and approved a transition plan as requested by the bank concerning the part-time Chairman's position.

It further highlighted that HDFC Bank, classified as a Domestic Systemically Important Bank (D-SIB), boasts robust financials, a professionally managed Board, and a capable management team.

In its official communication, HDFC Bank clarified that there were no reasons for Chakraborty’s resignation beyond what was mentioned in his letter and confirmed that he does not hold any directorship in other companies.

The Board expressed gratitude for Chakraborty’s contributions during his tenure and wished him well in his future pursuits.

Chakraborty, who joined the Board in May 2021, resigned citing that certain developments and practices within the bank over the last two years conflicted with his personal ethics and values.

Following this news, HDFC Bank's shares fell by as much as 8.41%, reaching an intraday low of Rs 772 on the BSE. By 11:28 am, the banking stock was trading at Rs 804, reflecting a decline of 4.57% on the exchange.