New Delhi: Retired IAS officer from Gujarat cadre, Atanu Chakraborty, resigned from the post of part time chairman of HDFC Bank. He has raised concerns regarding the bank’s internal working in his resignation letter.

He has stated that “certain happenings and practices within the bank” over the past two years were “not in congruence with my personal values and ethics”.

He addressed the letter to the chairman of governance, nomination, remuneration committee of the bank.

“I confirm that there are no other material reasons for my resignation other than those stated above,” he wrote.

Chakraborty had joined the board of HDFC Bank in May 2021. “My tenure on the board saw momentous events like the merger of the bank with HDFC Ltd that created a conglomerate under the Bank. This strategic initiative made HDFC Bank the second largest Bank in the country. Though, the benefits of merger are yet to fully fructify,” he stated.

US listed shares of HDFC Bank, India’s largest private-sector lender, slipped 7% following the announcement, according to a Reuters report. Its Mumbai listed shares had closed 0.3% lower ⁠before the news on Wednesday.

Meanwhile, the RBI has approved the appointment of Keki ⁠Mistry as an interim part time chairman for three months, the bank stated.