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May 3, 2024

Atanu Chakraborty Reappointed as HDFC Bank Chairman by RBI for Three Years

HDFC Bank Limited has announced that Atanu Chakraborty has been reappointed as the part-time chairman of the bank for a three-year term by the Reserve Bank of India (RBI). The reappointment will be effective from May 5, 2024, to May 4, 2027.

This decision follows the approval by the RBI and the recommendation of the Nomination and Remuneration Committee. The board of directors of HDFC Bank has given its nod to Chakraborty’s reappointment as part-time chairman and independent director.

Chakraborty’s reappointment comes with assurance from the bank that he is not related to any other directors or key managerial personnel, and he is not debarred from holding the office of a director by any regulatory authority, including the Securities and Exchange Board of India (SEBI).

Currently serving as a part-time chairman and independent director of HDFC Bank Limited, Atanu Chakraborty brings with him a wealth of experience. He served the Government of India for 35 years as a member of the Indian Administrative Service (IAS) in the Gujarat cadre, focusing primarily on finance and economic policy, infrastructure, petroleum, and natural gas.

During his tenure as secretary in the Ministry of Finance, Department of Economic Affairs (DEA), Chakraborty played a pivotal role in coordinating economic policymaking for all ministries and departments. He managed the entire process of budget formulation for the Union of India, including its passage in Parliament. His responsibilities included fiscal management policies, public debt management policies, and the development and management of financial markets.

Chakraborty’s expertise also extended to financial stability, currency, and both domestic and foreign-related financial issues. He managed fund flows with multilateral and bilateral financial institutions and had significant interactions with them. Additionally, he led a multidisciplinary task force that contributed to the creation of the National Infrastructure Pipeline (NIP).

With Chakraborty’s reappointment, HDFC Bank looks forward to benefiting from his extensive experience and leadership in navigating the bank’s strategic direction and ensuring its continued growth and stability in the coming years.

Conclusion:

Atanu Chakraborty’s reappointment as HDFC Bank’s part-time chairman for another three years underscores the bank’s commitment to strong leadership and governance. His vast experience in economic policy and finance positions him well to guide the bank through its future endeavors.

Jhumpa Lahiri

Jhumpa Lahiri

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