HDFC Bank shares fall 5% as part-time chair of India’s largest private bank resigns over 'ethics'
By Priyanka Salve
Published on March 19, 2026.
Shares of India's largest private bank, HDFC Bank, fell 5% after part-time chairman, Atanu Chakraborty, resigned due to governance and ethical concerns within the institution. The merger between HDFC and HDFC now makes the bank the world's fourth largest bank. During an investor call, interim chairman Keki Mistry stated that Chakaborty had not provided evidence or details of the alleged unethical practices. Over 47% of the HDFC shares are held by foreign institutional investors, including the Government of Singapore and Norway's Government Pension Fund.
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