Earlier, Atanu Chakraborty served the Government of India for a period of thirty-five years, as a member of the Indian Administrative Service in the Gujarat cadre.
HDFC Bank said the matter is with RBI for a second term of three years from May 5, 2024, to May 4, 2027 approval.
The merger gave entry to HDFC Bank to India's booming housing loan market while for HDFC the decision made sense on account of vanishing reglulatory arbitrage earlier available for non-banking finance companies.
Chakraborty also said that the bank will see fast growth with its wide branch network and the fast growing Indian economy
The merger between HDFC and HDFC Bank is one of the largest mergers in the financial sector in India. The idea is to bring together the forces of two organizations which had built themselves up. Catch the conversation as Moneycontrol's Shweta Punj talks with Atanu Chakraborty, Chairperson of HDFC Bank!
Chakraborty is a former economic affairs secretary of the Government of India and is a veteran IAS officer.
The bank has sent Chakraborty's name to the RBI and is awaiting the central bank’s clearance before a formal announcement. This could happen by early next month.
Economic Affairs Secretary Atanu Chakraborty said the Indian economy remains robust and more than meets the requirement of investment grade and above.
Standards and Poor's (S&P) also expects the Indian economy to continue to out-perform its peers and that the growth will remain strong over the next two years.
The government will hold 17 weekly gilt auctions during this period, of which 15 will be worth Rs 16,000 crore each.
The nomination of Atanu Chakraborty is effective from July 29 and until further orders, RBI said.
Chakraborty takes over at a time when the government finds itself in a logjam with over transfer of RBI’s surplus reserves; announcements about an overseas borrowing plan has also generated a lot of heat
The government has abandoned decades-old regime of awarding oil and gas fields under a production-sharing contract (PSC) and instead discovered marginal fields have been offered under a revenue-sharing model, Director General of Hydrocarbons Atanu Chakraborty told PTI here.
GSFC‘s fertilizer margins stood at 12.3 percent in the second quarter while its industrial margins stood at 10.1 percent. Company MD Atanu Chakraborty continues to be optimistic on growth led by fertilizer business. Going ahead, he expects an increase in fertilizer production from company‘s Sikka unit.
Speaking to CNBC-TV18 on the fertilizer company‘s Q2 results, Atanu Chakraborty, managing director, Gujarat State Fertilizers & Chemicals says while the company had hedged against the fall, it did come at a heavy price.