HDFC Bank, the nation’s largest personal sector financial institution stated that the banking regulator Reserve Bank of India (RBI) has permitted the appointment of former Economic Affairs Secretary Atanu Chakraborty as its Part-Time Chairman.
In a regulatory submitting on Friday, HDFC Bank stated, “The Reserve Bank of India (RBI) has approved the appointment of Atanu Chakraborty as the Part-Time Chairman of the HDFC Bank for a period of three years w.e.f. May 5, 2021, or the date of his taking charge, whichever is later.”
CNBC-TV18 was the primary to report in December 2020 that the Former Economic Affairs Secretary Atanu Chakraborty could possibly be the following Chairperson of HDFC Bank.
The financial institution will quickly convene the assembly of its Board of Directors to contemplate the appointment of Chakraborty because the Part-Time Chairman and Additional Independent Director, it added.
The appointment assumes significance because the financial institution has not too long ago undergone a management transition, with its very long time MD & CEO Aditya Puri retiring in October, and Sashidhar Jagdishan taking his place.
Chakraborty is a seasoned bureaucrat, and final served in a key place within the Finance Ministry because the Economic Affairs Secretary till his superannuation on April 30, 2020.
In his lengthy profession as a civil servant, Chakraborty held a number of vital positions, together with that of the Secretary within the Ministry of Finance- each within the Department of Economic Affairs in addition to Divestment. He was the Secretary of the Department of Investment and Public Asset Management (DIPAM) from between 2018 and 2019, and the Economic Affairs Secretary from 2019 to April 2020.
Chakraborty additionally held the place of the Director General of Hydrocarbons (DGH) within the petroleum ministry up to now.
