Chakraborty played a big role in merging HDFC Ltd with HDFC Bank — a deal that made it India's second-largest bank. But he'd voiced doubts about whether the merger was really paying off.
After his resignation, HDFC Bank's shares in the US (ADRs) fell over 7% overnight.

Mistry is a seasoned finance professional and previously led HDFC Ltd as vice chairman and CEO.
He is expected to help the bank navigate this transition, especially while it's still settling post-merger.

Mistry steps in for Atanu Chakraborty, who joined HDFC Bank's board back in 2021 and oversaw some major changes before deciding to leave due to ethical concerns.