HDFC Bank Reappoints Atanu Chakraborty As Part-Time Chairman For Three-Year Term

Atanu Chakraborty's reappointment will take effect from May 5, 2024, and will last until May 4, 2027

Atanu Chakraborty

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HDFC Bank, the country's largest private sector lender, on Friday (May 3) announced that the Reserve Bank of India (RBI) has approved the reappointment of Atanu Chakraborty as the bank's part-time chairman for another three-year term. This reappointment will take effect from May 5, 2024, and will last until May 4, 2027.

In a statement to the exchanges, the bank confirmed the reappointment based of Atanu Chakraborty on the approval from the RBI and recommendations from the Nomination and Remuneration Committee. Chakraborty is currently the Part-Time Non-Executive Chairman and Independent Director of HDFC Bank.

"Pursuant to the aforementioned approval by the RBI and based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Bank has approved the re-appointment of Atanu Chakraborty as Independent of the Bank for a period of three," the bank said.

Shares of HDFC Bank closed at Rs 1518.65 apiece, down 0.94 per cent, on the BSE on Friday.

Chakraborty brings extensive experience from his 35-year tenure in the Indian Administrative Service (IAS) in the Gujarat cadre, particularly in finance, economic policy, infrastructure, and energy sectors. During his time with the Union Government, he held key positions such as Secretary to the Government of India in the Ministry of Finance's Department of Economic Affairs from 2019 to 2020. His responsibilities included managing financial stability and currency matters, as well as overseeing domestic and international financial transactions.

Chakraborty has strong academic credentials, including a Bachelor's degree in Engineering (Electronics & Communication) from NIT Kurukshetra, a Diploma in Business Finance from ICFAI, Hyderabad, and a Master's degree in Business Administration from the University of Hull, UK. His wealth of experience and educational background will continue to contribute to HDFC Bank's growth and stability as he takes on his reappointment.