RBI approves appointment of Atanu Chakraborty as part-time chairman of HDFC Bank

Private sector lender HDFC Bank on Friday stated the Reserve Bank has accepted appointment of former Economic Affairs Secretary Atanu Chakraborty because the part-time chairman of the financial institution.
“The Reserve Bank of India (RBI) vide its communication dated April 22, 2021, has approved the appointment of Atanu Chakraborty as the part time chairman of the bank… for a period of three years with effect from May 5, 2021 or the date of his taking charge, whichever is later,” HDFC Bank stated in a regulatory submitting.
HDFC Bank stated a gathering of the board of administrators of the financial institution will probably be convened sooner or later inter-alia to contemplate the appointment of Atanu Chakraborty because the part-time chairman and extra impartial director of the financial institution.

Chakraborty, a 1985 batch IAS officer of Gujarat cadre, retired as Secretary of Department of Economic Affairs in April 2020. Prior to that, he was Secretary of Department of Investment and Public Asset Management (DIPAM). Both departments come beneath the finance ministry.
Once he’s appointed as chairperson, HDFC Bank would be the second non-public sector lender to have a former bureaucrat on the put up. ICICI Bank is chaired by former Petroleum Secretary and Additional Secretary within the finance ministry G C Chaturvedi.