The country’s largest private sector lender, HDFC Bank, has cleared the name of Atanu Chakraborty for the post of new part-time chairperson of the bank and has sent the recommendation to the Reserve Bank of India (RBI) for its approval. Chakraborty is a former economic affairs secretary of the Government of India and is a veteran IAS officer.
“Chakraborty’s name has been cleared by the Board. Once the RBI approves it, he will take charge as the next chairperson,” said a person in the know requesting anonymity. The tenure of the existing part-time chairperson of the bank, Shyamala Gopinath, will end on January 1, 2021.
HDFC Bank has seen major changes at the top this year. Aditya Puri, the managing director of the bank for the last 26 years, retired in October handing over the baton to Sashidhar Jagdishan for the top job at the bank. Along with this, there have been a series of changes at the top level.
“We wish to inform you that pursuant to the recommendations of the Nomination & Remuneration Committee, the Board of Directors of HDFC Bank Ltd (“the Bank”) at its meeting held today, has recommended the appointment of the Part-Time Chairperson of the Bank and has submitted its recommendation to the Reserve Bank of India for approval under Section 35B of the Banking Regulation Act, 1949. Further disclosure in this regard will be made after receipt of communication from the Reserve Bank of India,” HDFC Bank informed the stock exchanges on December 28.
Till the time the new chairperson is appointed, the board of directors of the bank shall, pursuant to Section 104 of the Companies Act, 2013, elect amongst themselves an independent director to chair the meetings of the board and relevant committees, the bank said.
Chakraborty is a 1985 batch IAS officer from the Gujarat cadre. He has a post-graduate diploma in business finance and an MBA from the UK.
Chakraborty served as the managing director and executive director of Gujarat State Petronet Limited from November 6, 2014, to April 11, 2016. He served in the districts of Vadodara and Sabarkantha, and was collector of Amreli.
Chakraborty has a wide experience of over 22 years working in various state as well as central government departments including revenue, finance, home, water resources and education departments and public sector undertakings.